FINTECH / REGTECH

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    Crypto / Digital Assets

    Hong Kong Announces Gazettal of Stablecoins Bill

    By Sanday Chongo Kabange | 08/12/2024

    The bill will implement a licensing and regulatory regime for issuers of fiat-referenced stablecoins. The first reading is set for 18 December.

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    Fintech / Regtech

    CFTC Issues Advisory on Use of AI by Regulated Entities

    By Nithya Subramanian | 06/12/2024

    The advisory is intended to remind market participants of their regulatory obligations as they begin to develop and implement AI.

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    Crypto / Digital Assets

    BSP Concludes Tests on Streamlining Interbank Payments With CBDC

    By Editors | 06/12/2024

    The BSP said Project Agila testing found that off-hours transactions can safely be supported by open-source DLT through the Oracle Cloud Infrastructure.

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    Fintech / Regtech

    MAS Issues Information Paper on AI Model Risk Management

    By Nithya Subramanian | 06/12/2024

    The paper sets out good practices for managing risks associated with AI, including GenAI, based on a thematic review of banks’ practices.

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    Fintech / Regtech

    EU Adopts New Legislative Package to Strengthen Cyber Resilience

    By Thisanka Siripala | 06/12/2024

    The legislation will establish a pan-European ‘cybersecurity alert system’ and a ‘cybersecurity emergency mechanism’ to enhance the EU’s response capabilities.

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    Fintech / Regtech

    MAS Extends Deadline to Cease Corporate Cheque Processing

    By Nithya Subramanian | 05/12/2024

    MAS also launched a consultation paper proposing a roadmap to sunset corporate cheques and a transition plan for retail cheques.

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    Big Picture

    BIS Paper Examines Choice Between Retail CBDC, FPS, or Both

    By Editors | 05/12/2024

    The choice depends on the market features, ecosystem, and degree of maturity and innovation of existing payment infrastructures in a country.

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    Big Picture

    Geopolitical Risk Seen as Top Risk to Financial Industry in 2025

    By Editors | 05/12/2024

    The top threats to the financial industry identified in DTCC’s latest Systemic Risk Barometer Survey were geopolitical risk and cyber risk.

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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.

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    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.

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