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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
Cryptocurrency
BOT Warns Against Using Crypto As Means of Payment
By Sanday Chongo Kabange | 18/07/2021
If the use of digital assets as a means of payment for goods and services become widespread, the BOT will take action in coordination with the SEC.
CBDCs
Vietnam to Explore Creation of Digital Currency
By Sanday Chongo Kabange | 18/07/2021
Vietnam’s strategy on digitising the local government includes directions for the SBV to pilot the use of a digital currency.
Cryptocurrency
Korea to Require Overseas Crypto Exchanges to Register with KoFIU
By Editors | 14/07/2021
Cryptocurrency exchanges based outside Korea would be required to register with KoFIU if they use the Korean won for settlement.
Anti-Money Laundering
Stablecoins Increasingly Used in Money Laundering, PBOC Says
By Editors | 12/07/2021
PBOC governor Fan Yifei says stablecoins are increasingly being used as a tool for illegal activities and money laundering.
CBDCs
RBNZ to Consult on Potential CBDC Issuance
By Sanday Chongo Kabange | 08/07/2021
The RBNZ plans to consult on broad concepts of money and cash stewardship, the potential for a CBDC, and issues arising from crypto assets and stablecoins.
Cryptocurrency
Philippine Bourse Seeks to Launch Crypto Business – Report
By Sanday Chongo Kabange | 07/07/2021
CEO Ramon Monzon said the PSE should be the exchange platform for crypto assets because it already has the trading infrastructure and investor safeguards in place.
Anti-Money Laundering
FATF Urges Faster Implementation of Travel Rule in Crypto Sector
By Editors | 06/07/2021
Slow implementation of travel rule requirements is acting as a disincentive to VASPs to invest in the necessary technology and compliance infrastructure.
Anti-Money Laundering
Taiwan: New AML Rules For Crypto Exchanges Take Effect
By Sanday Chongo Kabange | 05/07/2021
Crypto exchanges in Taiwan have to report transactions worth more than TWD 500,000 and fulfill KYC requirements.
Structural Regulation
MAS Proposes to Enhance Investigative, Supervision Powers
By Manesh Samtani | 04/07/2021
New powers will allow MAS to issue legally-binding directions to FIs in relation to unregulated business in bitcoin futures and other payment token derivatives traded on overseas exchanges.
Structural Regulation
SFC Sets Out Key Priorities in Annual Report
By Manesh Samtani | 03/07/2021
The SFC is implementing a number of projects that seek to leverage new technologies to enhance risk detection and workflow efficiency.
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