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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
KYC & CDD
Thailand to Tighten Crypto Exchange Account Opening Rules
By Sanday Chongo Kabange | 05/05/2021
Crypto exchanges will reportedly be required to verify customers’ identities using special machines that require Thai national IDs and physical presence.
Tokenisation
UPDATED – BaFin Says Binance Stock Tokens Violate Securities Laws
By Sanday Chongo Kabange | 05/05/2021
The tokens require the publishing of a prospectus, “minimum information required by law” for the sale of an investment product.
Anti-Money Laundering
Data Analytics Becoming Embedded at Singapore FIs
By Manesh Samtani | 02/05/2021
The increased use of data analytics and digital processes has led to increased AML/CFT effectiveness, according to Assistant Managing Director Ms Loo Siew Yee.
Payments & Settlements
DBS, JP Morgan, Temasek Team Up on Cross-border Payments
By Manesh Samtani | 28/04/2021
An open platform will be developed to enable real-time cross-border multi-currency payments, trade finance, foreign exchange and DVP securities settlements.
Custody & Infrastructure
Blockchain Groups Form New ASEAN Consortium to Drive Adoption
By Editors | 27/04/2021
Members include blockchain associations in Singapore, Indonesia, the Philippines, Malaysia, Thailand and Australia.
Cryptocurrency
US House Passes Bill to Foster Innovation in Digital Assets
By Editors | 25/04/2021
The bill will require the SEC and CFTC to establish a digital asset working group to ensure collaboration between regulators and the private sector on digital assets.
Custody & Infrastructure
UK Taskforce Publishes Digital Dispute Resolution Rules
By Sanday Chongo Kabange | 25/04/2021
The rules allow parties to digital transactions to quickly resolve disputes through arbitration, where decisions are implemented within smart contracts.
Anti-Money Laundering
Taiwan to Require Crypto Sector to Comply with AML Rules
By Sanday Chongo Kabange | 21/04/2021
Crypto exchanges and trading platforms will have to comply with AML requirements for conventional banks starting 1 July.
Anti-Money Laundering
FSS Korea Mulls New Crypto Rules to Counter ‘Kimchi Premium’
By Sanday Chongo Kabange | 20/04/2021
The plan is a response to growing suspicions that investors are purchasing bitcoin from overseas exchanges with the intent of selling them in Korea at a premium.
Structural Regulation
Gary Gensler Sworn Into Office as New SEC Chair
By Sanday Chongo Kabange | 18/04/2021
Gary Gensler was sworn in as the new SEC chairman three days after the US Senate voted to approve his nomination.
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