Digital Assets

Cryptocurrency

Korean Banks Impose New Requirements on Crypto Exchanges

By Manesh Samtani | 29/08/2023

Korean crypto exchange will need to set aside reserves worth $2.3mn, or 30 percent of their daily average deposits, whichever is greater.

Tokenisation

US SEC Settles First NFT-related Enforcement Action

By Manesh Samtani | 29/08/2023

The SEC says NFTs offered and sold to investors by Impact Theory were investment contracts and therefore unregistered securities.

AI Risk & Governance

HKMA Announces Expanded Scope of Fintech Push

By Sanday Chongo Kabange | 28/08/2023

The HKMA will take “proactive steps” to assist banks, brokers and insurers to “put fintech solutions into action”.

Payments & Settlements

BRICS Nations Invite Six Nations to Join as Members

By Editors | 27/08/2023

BRICS officials will develop measures to reduce their reliance on the USD in trade, in favour of using local currencies.

Cryptocurrency

US Authorities Propose New Tax Reporting Rules for Crypto

By Manesh Samtani | 27/08/2023

Crypto firms, NFT platforms, and wallet providers would have to report sales and exchanges of digital assets to the IRS.

Tokenisation

HKMA to Explore Regulatory Changes to Promote Bond Tokenisation

By Sanday Chongo Kabange | 26/08/2023

The report suggests new requirements could be introduced for DLT platforms, covering areas from KYC and AML compliance to BCPs and cyber risk assessments.

CBDCs

RBA Completes CBDC Research Project, Issues Findings

By Sanday Chongo Kabange | 24/08/2023

The project highlighted areas where a CBDC could enhance the payments system, but also raised a number of legal and regulatory issues.

PEPs & Sanctions

US Sanctions Tornado Cash Co-founder, Arrests Another

By Manesh Samtani | 24/08/2023

Russian national Roman Semenov was added to OFAC’s sanctions list. Another co-founder, Roman Storm, was arrested on Wednesday.

Fraud, Scams & Cybercrime

Thailand Threatens to Ban Facebook Over Fraudulent Crypto Ads

By Mark Johnston | 24/08/2023

Thailand has threatened to ban Facebook if it does not stop allowing fraudulent crypto ads on its platform.