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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
Tokenisation
NFTs Are Not Suitable for Retail Investors, MAS Chairman Warns
By Manesh Samtani | 17/02/2022
MAS chairman Tharman Shanmugaratnam said NFTs could be regulated only if they are used to represent capital markets products.
Cryptocurrency
Crypto-related Financial Stability Risks are Increasing: FSB
By Manesh Samtani | 16/02/2022
Crypto-related financial stability risks could “rapidly escalate”, underscoring the need for “timely and pre-emptive” evaluation of possible policy responses.
Cryptocurrency
Thai SEC Proposes New Rules on Crypto-related Advertising
By Manesh Samtani | 15/02/2022
Advertisements related to cryptocurrencies in public areas will be prohibited, but advertising of services “can still be carried out normally”.
Cryptocurrency
DBS to Offer Retail Crypto Trading by Year End
By Mark Johnston | 15/02/2022
DBS plans to make access to its institutional trading desk for digital assets more convenient and to launch retail services by year-end.
Anti-Money Laundering
MAS Tables Bill to Obtain Enhanced Regulatory Powers
By Sanday Chongo Kabange | 15/02/2022
The Financial Services and Markets Bill will give MAS enhanced regulatory powers to address misconduct, crypto asset and technology risks.
Supervision & Enforcement
PBOC Official Calls Out ‘Illegal’ Foreign Investment Channels
By Darien Choong | 13/02/2022
The PBOC’s Sun Tianqi has warned domestic securities firms against using their offshore units to facilitate cross-border securities trading.
Anti-Money Laundering
HK Gov Issues Discussion Paper on Proposed VASP Regime
By Manesh Samtani | 11/02/2022
Licensing will be available to companies incorporated elsewhere as long as they have a registration in Hong Kong.
Cryptocurrency
FSB Working on Global Regulatory Framework for Crypto
By Manesh Samtani | 11/02/2022
The FSB is reportedly “going full steam” on the issue of developing global regulatory standards for the crypto asset market.
Market Abuse
Wash Trading Undermines Trust in NFT Markets: Report
By Manesh Samtani | 10/02/2022
Wash trading profits are likely derived from sales to “unsuspecting buyers”, who believe the NFTs they purchase have been growing in value.
Anti-Money Laundering
US DOJ Makes Largest Ever Cryptocurrency Seizure
By Sanday Chongo Kabange | 10/02/2022
The DOJ seized a record USD 3.6 billion in bitcoin tied to the 2016 Bitfinex hack, representing the largest financial seizure in its history.
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