Digital Assets

Tokenisation

Benefits of Tokenisation Are “Overexaggerated”: WFE Paper

By Nithya Subramanian | 13/06/2024

The WFE says tokenisation work should continue, but that some of the benefits claimed are “overexaggerated”.

PEPs & Sanctions

US Expands Russia Sanctions Ahead of G7 Leaders Meeting

By Manesh Samtani | 13/06/2024

New sanctions target Russian financial infrastructure as well as entities in China, Hong Kong, Singapore and Thailand.

Cryptocurrency

Thailand Revokes Crypto Licence Due to Regulatory Failures

By Nithya Subramanian | 12/06/2024

The SEC said the Minister of Finance has agreed to revoke Zipmex’s digital asset business licence to prevent damage to customers.

Cryptocurrency

Australia Bans Use of Crypto, Credit for Online Gambling

By Editors | 12/06/2024

Cryptocurrencies, credit cards, and other new forms of credit cannot be used as payment methods for online gambling.

Cryptocurrency

FSC Korea to Establish Dedicated Virtual Assets Division

By Editors | 12/06/2024

The new division is being created as a temporary organisation to establish an effective disciplinary system for the virtual asset market.

Cryptocurrency

FSS Korea Hosts First Industry Workshop on New Crypto Law

By Manesh Samtani | 11/06/2024

The workshop, and future workshops, are intended to ensure the “smooth implementation” of the Virtual Asset User Protection Act in July.

CBDCs

HSBC China Launches e-CNY Services for Corporate Clients

By Sanday Chongo Kabange | 11/06/2024

HSBC China has become one of the first foreign banks in the country to provide digital yuan services to both corporate and retail customers.

Tokenisation

Korea Sets Guidelines on Treatment of NFTs Under New Law

By Manesh Samtani | 11/06/2024

NFTs that are not unique, produced in large quantities, split into fractional units, or used in payments will be regulated under the new Virtual Asset User Protection Act.

Cryptocurrency

VASP Business Closures Not Being Handled Properly: KoFIU

By Manesh Samtani | 07/06/2024

More VASPs are expected to close ahead of the Virtual Asset User Protection Act coming into effect on 19 July, KoFIU said.