Cryptocurrency

Structural Regulation

Korea: New FSC Chief to Prioritise Market Stability, Innovation

By Editors | 17/07/2022

The FSC could use market stabilisation funds and impose short-selling bans to stabilise markets and address excessive volatility.

Cryptocurrency

Thailand Refines Rules for Crypto Firms, Issues Draft Rules for Banks

By Manesh Samtani | 15/07/2022

The SEC amended capital requirements and other rules for crypto firms. The BOT issued draft rules for banks dealing in crypto. Two crypto exchanges were penalised.

Structural Regulation

OECD Confirms Timeline Revision for New Global Tax Rules

By Editors | 15/07/2022

A new international treaty for the Pillar One reforms will be finalised by mid-2023 for entry into force in 2024.

Cryptocurrency

BOE Calls for Clear Regulatory Framework for Crypto Assets

By Mark Johnston | 14/07/2022

BOE’s Jon Cunliffe said the extension of a regulatory framework to encompass crypto must be grounded in the iron principle of ‘same risk, same regulatory outcome’.

Emerging Prudential Risks

FSB Updates G20 on Covid-19, Climate, Crypto Work

By Editors | 13/07/2022

Accompanying the letter to the G20 is a report on exit strategies to address COVID-19 scarring in the financial sector, and a statement on crypto-asset regulation.

Fraud, Scams & Cybercrime

Crypto Firm Celsius Network Accused of Running Ponzi Scheme

By Editors | 12/07/2022

A lawsuit filed by a former Celsius money manager says the company mismanaged customer funds, failed to perform basic internal auditing, and manipulated crypto-assets.

Cryptocurrency

FSB Issues Statement on Crypto Assets Ahead of G20 Meeting

By Editors | 11/07/2022

The statement clarifies that so-called stablecoins and other crypto-assets “do not operate in a regulation-free space”.

Cryptocurrency

Fed Vice Chair Calls for Swift Action on Crypto Regulation

By Editors | 11/07/2022

This is the right time to establish which crypto activities are permissible for regulated entities and under what constraints, Lael Brainard said.

Cryptocurrency

US Treasury Outlines Approach to International Engagement on Crypto

By Editors | 11/07/2022

The US will promote the adoption and implementation of international standards while ensuring a “coordinated message” and limiting duplication of work.