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Big Picture
Report Urges Swift Action to Cement Hong Kong’s Status as Web3 Hub
By Manesh Samtani | 23/06/2025
New report by Web3 Harbour and PwC outlines several key enablers for Hong Kong to become a global financial centre for Web3 and digital assets.
Fintech / Regtech
Mainland China and Hong Kong Launch Fast Payments Link
By Sanday Chongo Kabange | 23/06/2025
HKMA and PBOC launched “Payment Connect”, streamlining cross-boundary payments and remittances between Hong Kong and Mainland China.
Fintech / Regtech
BSP Proposes Model Risk Management Guidelines for FIs
By Sanday Chongo Kabange | 20/06/2025
The BSP has proposed model risk management guidelines for financial institutions to enhance operational resilience and mitigate potential losses.
Fintech / Regtech
Thailand Awards Three Virtual Banks Licences
By Manesh Samtani | 20/06/2025
Thailand has awarded virtual bank licences to three consortia, including one led by SCB X in partnership with China’s WeBank and Korea’s KakaoBank.
Fintech / Regtech
UBS, Pictet Suffer Data Leak Following Cyberattack on Vendor
By Thisanka Siripala | 20/06/2025
Both banks said client information was not affected by the cyberattack on Chain IQ, only employee-related data.
Fintech / Regtech
South Korea Launches Enhanced “MyData 2.0” Service
By Sanday Chongo Kabange | 19/06/2025
“My Data 2.0” incorporates seven improvements announced in April 2024 including full financial asset consolidation and enhance consumer protections.
Enforcement
ACCC Fines NAB Over CDR Data Quality Issues
By Sanday Chongo Kabange | 19/06/2025
The ACCC said NAB’s payment of the penalties is the highest amount paid for alleged contraventions of the CDR rules to date.
Fintech / Regtech
Shanghai, Hong Kong Agree 38-Point Action Plan to Deepen Ties
By Editors | 19/06/2025
The action plan includes specific measures such as jointly developing financial products and connecting Hong Kong’s FPS with China’s IBPS.
Crypto / Digital Assets
Korea FSS Considers Inspections of Korbit Over Trading Suspension
By Thisanka Siripala | 19/06/2025
The FSS is said to be investigating the cause of a 12-hour trading and services suspension at crypto exchange Korbit.
Fintech / Regtech
“Perfect Storm” of Operational Risks Brewing: APRA
By Thisanka Siripala | 19/06/2025
APRA’s Chris Gower said geopolitics, cyber threats, and third-party reliance create operational resilience challenges for the financial sector.
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