Crypto / Digital Assets

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    Fintech / Regtech

    BIS Paper Offers Technical Model for Assessing DeFi Risks

    By Editors | 24/01/2023

    The paper highlights the intertwined nature of DeFi protocols, the dependencies they can have on stablecoins, and how such dependencies can present vulnerabilities.

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    Crypto / Digital Assets

    Crypto Lender Genesis Files for Bankruptcy Protection

    By Editors | 24/01/2023

    Genesis has more than 100,000 creditors who may be owed up to USD 10 billion. The biggest creditor is crypto exchange Gemini.

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    Crypto / Digital Assets

    WEF Publishes Toolkit to Facilitate Development of DAOs

    By Editors | 21/01/2023

    DAOs have the potential to address the shortcomings of traditional firms while also realising more equitable governance and operations.

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    AML / KYC

    US SEC Fines Crypto Firm Nexo for Unregistered Securities Offering

    By Manesh Samtani | 20/01/2023

    Nexo settled charges from US regulators for $45mn. The company was separately raided by Bulgarian authorities last week.

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    Crypto / Digital Assets

    NAB to Launch AUD Stablecoin Around Mid Year

    By Manesh Samtani | 20/01/2023

    NAB plans allow clients to use the stablecoin for repo transactions, cross-border remittances, and carbon credits trading.

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    Crypto / Digital Assets

    BSP’s CBDC Testing to Continue in Sandbox Until 2024

    By Editors | 19/01/2023

    The BSP is testing large value CBDC transactions among a limited number of FIs. A retail  CBDC is not being explored.

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    Crypto / Digital Assets

    Crypto Firms Team Up to Accelerate Climate Action

    By Mark Johnston | 19/01/2023

    The partnership comprises the GBBC, Eqo Networks, BxCi, Solana Foundation, Ripple, Regen Network, and Climate Collective.

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    Crypto / Digital Assets

    Thailand: New Crypto Custody Regulations Take Effect

    By Tung Li Lim | 19/01/2023

    The regulations provide clarity on the IT controls custody providers must have in place to mitigate cyber risks in their management of crypto wallets and keys.

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    AML / KYC

    HKMA Consults on Changes to AML/CFT Guideline for Banks

    By Manesh Samtani | 19/01/2023

    Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.

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    AML / KYC

    Authorities Dismantle Russia-Linked Crypto Firm Bitzlato

    By Manesh Samtani | 18/01/2023

    Bitzlato facilitated $700mn in crypto transfers for Hydra users and received more than $15mn in ransomware proceeds.

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