Digital Assets

Emerging Prudential Risks

CFTC Proposes Rule Update to Account for Crypto and Cyber Risks

By Editors | 05/06/2023

The CFTC is considering requiring firms to update their risk management frameworks to account for related to crypto, AI, cyber, and climate.

Cryptocurrency

SFC Issues Guidance on Crypto Licensing Transitional Arrangements

By Manesh Samtani | 05/06/2023

Crypto firms with “meaningful and substantial presence” in Hong Kong prior to 1 June 2023 can continue to provide services.

Cryptocurrency

EU Officials Formally Sign MiCA Into Law

By Sanday Chongo Kabange | 02/06/2023

The MiCA legislation was signed into law on Wednesday by European Parliament president Roberta Metsola and Swedish minister Peter Kullgren.

Stablecoins

EU Proposes Lower Risk Weights for Stablecoins, Tokenised Assets

By Mark Johnston | 02/06/2023

Stablecoins backed by non-fiat assets such as gold would have a 250% risk weight. Those backed by fiat currency would be treated the same as the underlying.

Cryptocurrency

Eurex Receives Approval to Offer Bitcoin Futures to US Investors

By Ranamita Chakraborty | 02/06/2023

US investors can now benefit from access to a wider range of participants and liquidity pools during Asian, European and US hours, Eurex says.

Cryptocurrency

CFTC Issues Advisory on Risks of Clearing Crypto Derivatives

By Editors | 31/05/2023

Commissioner Kristin Johnson said the advisory means a formal rulemaking process on crypto clearing is warranted.

Market Abuse

Former Coinbase Manager Settles SEC Insider Trading Case

By Manesh Samtani | 31/05/2023

In light of the prison sentences Ishan Wahi and his brother have to serve, the SEC will not seek civil penalties apart from the disgorgement already ordered.

Cryptocurrency

Korea FSS Preparing New Supervision System for Crypto Industry

By Manesh Samtani | 31/05/2023

The FSS is calling on the crypto industry to improve their self-regulatory capabilities until the new Virtual Asset User Protection Act is fully implemented.

Payments & Settlements

HKMA to Ramp Up Cross-border Collaboration with UAE

By Editors | 30/05/2023

The HKMA will form a joint working group with CBUAE and banking sector stakeholders to take forward the agreed initiatives.