The project, now called ‘m-CBDC Bridge’, will seek the development of a prototype to facilitate real-time cross-border transactions using multiple CBDCs.
The move is aimed at preventing the P2P lenders from being used for money laundering and terrorism financing, said OJK Deputy Director Munawar.
New rules require banks to contribute no more than 70 percent of the capital when providing loans through an online lending platform.
The new regulatory framework will guide banks and other financial institutions on how they use and handle electronic information that they collect from customers.
The SEC is considering the introduction of screening criteria for retail crypto investors which could include age, trading experience and wealth.
Sea Group's e-commerce arm Shopee plans to turn a newly acquired Indonesian bank into a digital bank. OJK is meanwhile preparing new regulations for digital banks.
The RBI has set out new prescriptive guidelines on the security protocols that need to be adopted in digital payment applications.
Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.
Many central banks have undertaken initiatives to develop big data platforms to facilitate storage and processing of large data sets, but progress has varied.
BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.
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