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Crypto / Digital Assets
ASIC Seeks Feedback on Updated Guidance for Digital Assets
By Thisanka Siripala | 05/12/2024
ASIC proposes to regulate digital assets like traditional financial products, requiring crypto firms to apply for an AFS licence.
AML / KYC
UK FCA Finalises Updates to Financial Crime Guide
By Editors | 04/12/2024
The financial crime guide is updated to provide additional guidance on sanctions, proliferation financing, transaction monitoring and cryptoassets.
Crypto / Digital Assets
Permissionless Blockchains Can Enhance Traditional Financial Services
By Editors | 03/12/2024
European Commission report says public permissionless blockchains represent a promising alternative to permissioned platforms.
Fintech / Regtech
DBS, EnterpriseSG, IMDA Launch Programme to Upskill SMEs on GenAI
By Nithya Subramanian | 03/12/2024
The programme offers SMEs a “structured, simplified approach” to discover use cases and practical applications of GenAI solutions for their business operations.
Fintech / Regtech
India: RBIH Wants Banks to Use AI to Detect Mule Accounts
By Editors | 03/12/2024
The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.
Market Infrastructure
HKMA Issues New Statutory Guideline on Cyber Risk Management
By Manesh Samtani | 03/12/2024
The SPM module articulates the HKMA’s policy, overarching principles, and supervisory approach on banks for managing cyber risks.
Fintech / Regtech
Australia Passes Law Introducing New Rules for BNPL Services
By Thisanka Siripala | 02/12/2024
BNPL providers must adhere to requirements under the the National Consumer Credit Protection Act. ASIC will be tasked with regulating the sector.
Fintech / Regtech
FSC Korea Adjusts Criteria for Authorising Internet-only Banks
By Manesh Samtani | 02/12/2024
The FSC plans to add a statutory condition under the Banking Act that will allow it to suspend an internet-only bank’s operations if it cannot execute its business plan.
Sanctions
Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report
By Editors | 02/12/2024
The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.
Fintech / Regtech
UK Launches AI Security Research Lab to Defend Against Cyber Threats
By Thisanka Siripala | 02/12/2024
The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.
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