Digital Assets

DeFi & Web3

BIS Paper Identifies Gaps in Regulatory Frameworks for Crypto

By Manesh Samtani | 18/05/2023

The paper says authorities should consider regulations for utility tokens, governance tokens, DeFi actors, and crypto firms that resemble financial conglomerates.

CBDCs

Canvas Completes First FX Transaction Using Australian CBDC

By Sanday Chongo Kabange | 18/05/2023

The eAUD was traded for foreign currency stablecoin USDC, representing the first foreign exchange transaction using the RBA’s pilot CBDC.

Anti-Money Laundering

US DOJ to Ramp Up Scrutiny of Crypto Platforms – Report

By Mark Johnston | 18/05/2023

The DOJ will pursue target crypto exchanges, mixers and tumblers that are enabling criminal actors to profit from their crimes.

Cryptocurrency

EU Council Formally Adopts New Legal Framework for Crypto

By Sanday Chongo Kabange | 17/05/2023

New rules under MiCA cover issuers of utility tokens, asset referenced tokens, stablecoins, service providers such as trading venues, and wallets where crypto-assets are held.

Cryptocurrency

US SEC Responds to Coinbase Request for Regulatory Clarity

By Editors | 16/05/2023

The SEC said it has no obligation to issue the “broad new regulations” for digital assets that Coinbase has requested.

CBDCs

BOK, Samsung to Collaborate on Offline CBDC Payments

By Editors | 16/05/2023

The agreement will involve further research on a BOK-issued CBDC and collaboration in the offline payments sector.

Market Abuse

Korean Prosecutors Seize Records from Upbit, Bithumb

By Editors | 16/05/2023

The move is part of a probe into a Korean lawmaker who was found to own crypto in amounts that are “inconsistent with his frugal image”.

Stablecoins

Tether’s Excess Stablecoin Reserves Reach All-time High

By Editors | 15/05/2023

Tether has $81.8bn in consolidated total assets, exceeding its $79.4bn in liabilities. Excess reserves held in gold and bitcoin were published for the first time.

PEPs & Sanctions

G7 Leaders Pledge to Maintain Resilience of Global Financial System

By Editors | 15/05/2023

The G7 communique vows stepped-up sanctions enforcement, and readiness to act on financial stability, climate change, and crypto-asset activities.