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Big Picture
FSB Annual Report Warns of Continued Financial Stability Risk
By Manesh Samtani | 28/10/2021
Sudden sharp movements in asset prices could spill over across the financial system and the unwinding of policy support could prompt insolvencies and credit losses.
Fintech / Regtech
Nigeria Launches Central Bank Digital Currency, eNaira
By Editors | 27/10/2021
The eNaira is expected to boost cross-border trade and financial inclusion, improve transaction efficiency, and make monetary policy more effective.
AML / KYC
FATF Concludes Plenary, Finalises Work in Key Areas
By Manesh Samtani | 23/10/2021
The FATF will issue updated guidance for VASPs next week. A statement on Afghanistan was released. Beneficial ownership and cross-border payments also in focus.
AML / KYC
Australia Senate Report Proposes New Crypto Licensing Regime
By Manesh Samtani | 21/10/2021
The committee recommends a new category of market licence be created for crypto exchanges and a new company structure for DeFi platforms.
Crypto / Digital Assets
NYSE Launches First US ETF Linked to Bitcoin with SEC Approval
By Sanday Chongo Kabange | 21/10/2021
The ProShares bitcoin ETF had almost $1bn in turnover on the first trading day, after receiving a green light from the SEC last week.
Enforcement
CFTC Fines Tether as US Regulators Scrutinise Crypto Markets
By Mark Johnston | 21/10/2021
The CFTC has fined Tether $41mn and Bitfinex’s parent $1.5mn. Meanwhile New York prosecutors have directed two crypto lending platforms to cease operations.
Big Picture
Crypto Asset Regulation “A Matter Of Urgency”, says BOE
By Mark Johnston | 18/10/2021
Deputy governor Jon Cunliffe says a “plausible scenario” involving a collapse in crypto-asset prices would have financial stability implications.
Crypto / Digital Assets
ASIC Seeks Extension of CFD Product Intervention Order to 2031
By Sanday Chongo Kabange | 18/10/2021
ASIC says there were 45 percent fewer loss-making retail client accounts and losses were smaller as a result of its October 2020 product intervention order.
AML / KYC
OFAC Issues Sanctions Guidance for Crypto Sector
By Editors | 17/10/2021
OFAC expects virtual currency operators to identify and block IP addresses that originate in sanctioned jurisdictions, including via VPNs.
Crypto / Digital Assets
Sri Lanka to Develop Regulatory Framework for Cryptocurrency
By Sanday Chongo Kabange | 15/10/2021
The committee will advise Sri Lanka’s cabinet on a regulatory framework for Sri Lanka for blockchain, digital banking and crypto mining.
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