Cryptocurrency

Cryptocurrency

Consortium of Japanese Firms to Test Digital Currency in April

By Sanday Chongo Kabange | 24/11/2020

The consortium, which includes Japan’s three megabanks as members, aims to address a lack of interoperability between digital payment platforms in the country.

Liquidity Risk

Thailand SEC Revises Net Capital Rules to Bolster Liquidity

By Sanday Chongo Kabange | 22/11/2020

The SEC will allow securities companies to include the value of digital assets when calculating their net capital funds, though a haircut of at least 50 percent will be applied.

Fraud, Scams & Cybercrime

Australian Police Charge Ex-Promoter of Failed Crypto Platform

By Sanday Chongo Kabange | 19/11/2020

The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.

Anti-Money Laundering

FSC Korea to Introduce FATF-aligned AML Rules for VASPs

By Editors | 04/11/2020

Under the new rules, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transactions worth more than KRW 1 million.

Anti-Money Laundering

Hong Kong to Align Crypto Regulatory Framework with FATF Standards

By Manesh Samtani | 03/11/2020

The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.

Anti-Money Laundering

Singapore Bill to Align Payment Services Act with FATF Standards

By Editors | 03/11/2020

The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.

CBDCs

Cambodia Launches Central Bank Backed Digital Currency

By Editors | 28/10/2020

The digital currency, known as Bakong, allows users to transfer money using a mobile app by scanning QR codes or inputting the recipient’s phone number.

Tokenisation

DBS to Launch Digital Exchange, Subject to Regulatory Approvals

By Editors | 28/10/2020

The exchange will offer trading services from fiat currencies to four of the top digital currencies in circulation, as well as capital raising through STOs.

Anti-Money Laundering

US Agencies Target Cross-border Transfers in Proposed Rule Change

By Editors | 26/10/2020

Financial institutions will have to collect, retain, and transmit information related to any international transaction over $250, including those involving crypto assets.