Cryptocurrency

Cryptocurrency

Bitcoin Consumes Less Energy than Classical Payments: Report

By Mark Johnston | 25/06/2022

Research report finds that the Lightning network enables a single Bitcoin transaction to become 194 million times more energy-efficient than a classical payment.

Cryptocurrency

MAS Grants Three More In-Principle Approvals to Crypto Firms

By Manesh Samtani | 22/06/2022

Deputy PM Heng Swee Keat said in-principle approvals were being issued to three more DPT licence applicants, later identified as Crypto.com, Genesis and Sparrowtech.

Cryptocurrency

India: Crypto Exchanges Call on NPCI to Restore UPI Services

By Mark Johnston | 22/06/2022

Since April, Indian crypto exchanges have not been able to accept deposits via the UPI. BACC members are asking for a reversal of the decision.

Cryptocurrency

BIS Vision for Monetary System Doesn’t Include Crypto

By Manesh Samtani | 21/06/2022

BIS says crypto and DeFi have structural limitations and inherent risks that make them unsuitable for the future digital monetary system.

Anti-Money Laundering

UK Crypto Firms Required to Comply with Travel Rule by Sep 2023

By Manesh Samtani | 20/06/2022

The UK scrapped a proposal to require both fiat currency and cryptoasset transfers to be considered when calculating the de minimis threshold, which has been set at EUR 1,000.

Market Abuse

BIS Bulletin Raises Concerns Over Front-running by Crypto Miners

By Editors | 20/06/2022

Crypto miners can choose which transactions they add to ledgers and in which order, allowing them to front-run markets.

Cryptocurrency

Thai SEC Directs Listcos to Exercise Prudence in Crypto Business

By Editors | 20/06/2022

Circulars were sent to listed companies regarding digital assets. The SEC’s final advertising rules will take effect on 16 July. Huobi has exited the Thai market.

Emerging Prudential Risks

Korea: New FSC, FSS Chiefs to Prioritise Stability, Growth

By Mark Johnston | 20/06/2022

The FSS will be led by former prosecutor Lee Bok-hyun, while the FSC will be led by Kim Joo-hyun, who helped guide Korea through the 2008 crisis.

Cryptocurrency

Korea Crypto Exchanges Agree Measures to Prevent Terra-style Losses

By Editors | 20/06/2022

Under a new system being proposed, crypto exchanges will coordinate to stop trading in tokens that become excessively volatile within 24 hours.