Digital Assets

Cryptocurrency

MAS to Require Trust Holding of DPT Customers’ Assets

By Jill Wong | 04/07/2023

MAS says the move is aimed at preventing the loss of customers’ assets and to facilitate a recovery in the event of a DPT provider’s insolvency.

DeFi & Web3

Hong Kong Establishes Task Force to Advance Web3 Development

By Sanday Chongo Kabange | 03/07/2023

The task force will bring together industry leaders and regulators to provide advice on developing Hong Kong into a Web3 hub.

Cryptocurrency

Thai SEC Prohibits Crypto Lending, Deposit Taking Services

By Editors | 03/07/2023

Crypto firms will also have to disclose a warning about the risks associated with trading cryptocurrencies from 31 July 2023.

Fraud, Scams & Cybercrime

Korean Authorities Probes Crypto Lender Delio Over Fraud Allegations

By Sanday Chongo Kabange | 03/07/2023

Regulators are investigating Delio on suspicions that it engaged in fraudulent activities, embezzlement and breach of trust.

Cryptocurrency

RBNZ to Develop Monitoring Capabilities for Crypto Markets

By Sanday Chongo Kabange | 02/07/2023

The RBNZ is not planning to introduce a regulatory framework for cryptoassets until global best practice becomes clearer.

Cryptocurrency

South Korea Passes Virtual Asset User Protection Bill

By Editors | 02/07/2023

The bill focuses on protecting virtual asset users and preventing unfair trading practices. The new framework will be implemented within one year.

Capital Adequacy

UK: Financial Services and Markets Act Receives Royal Assent

By Editors | 29/06/2023

The Act sets a path to reform Solvency II, gives the FCA regulatory powers over crypto, and provides stronger protections for victims of APP fraud.

CBDCs

EU Commission Issues Legislative Proposal to Introduce CBDC

By Editors | 29/06/2023

The ECB will decide whether to move to the next phase of the project after its investigation phase is concluded in October.

CBDCs

BIS Releases Interim Report on Project Mariana

By Editors | 29/06/2023

Project Mariana is studying the use of DeFi automated market makers and wholesale CBDC for cross-border foreign exchange transactions.