Digital Assets

Stablecoins

Emerging Markets Particularly Vulnerable to Stablecoin Risks: FSB

By Editors | 24/07/2024

New FSB report says EMDEs are particularly vulnerable to macro-financial risks associated with the use of foreign currency-pegged stablecoins.

Cryptocurrency

Crypto Firm Gate.io Leaves Japanese Market to Comply With Law

By Thisanka Siripala | 24/07/2024

Gate.io said it has stopped opening new accounts for Japanese residents and will remove Japanese language support.

Anti-Money Laundering

US House Passes Bill to Combat Crypto-enabled Illicit Finance

By Nithya Subramanian | 23/07/2024

Under the bill, an independent financial technology working group will be established to examine illicit finance in the digital asset ecosystem.

Cryptocurrency

Hong Kong Lists Asia’s First Inverse Bitcoin ETF

By Sanday Chongo Kabange | 23/07/2024

The new ETF was issued by CSOP Asset Management, which was also first to launch Asia’s first crypto futures ETFs in December 2022.

Payments & Settlements

Cambodia to Allow Tourists to Use Bakong Payment App

By Nithya Subramanian | 23/07/2024

Tourists visiting Cambodia will be able to download the Bakong app and use a credit card from their home country to top up the wallet.

Emerging Prudential Risks

NBFI Vulnerabilities Remain Largely Unaddressed, Warns FSB

By Manesh Samtani | 22/07/2024

The global financial system remains susceptible to further shocks, the FSB says, calling for faster implementation of reforms to address NBFI vulnerabilities.

Fraud, Scams & Cybercrime

Indian Crypto Exchange WazirX Suffers $230m Crypto Theft

By Ajoy K Das | 22/07/2024

WazirX is offering a reward for help in recovering the stolen assets. Hackers affiliated with North Korea are believed to be responsible.

Custody & Infrastructure

ANNA, DTIF to Streamline Digital Asset Regulatory Reporting

By Editors | 19/07/2024

ANNA and DTIF will work to integrate DTIs and ISINs in KYAX’s reporting tool to simplify compliance with reporting requirements under MiCA and EMIR Refit.

Anti-Money Laundering

Taiwan FSC Imposes AML Fine on Crypto Firm ACE Exchange

By Editors | 19/07/2024

ACE Exchange failed to verify customer identities and to set different transaction monitoring thresholds based on customer risk levels, among other violations.