Digital Assets

Anti-Money Laundering

MAS Proposes Amendments to Payment Services Regulations

By Editors | 09/05/2023

The consultation covers amendments to Payment Services Regulations and existing notices to include newly scoped-in payment services like DPT services.

CBDCs

BNP Paribas to Start Providing e-CNY Services in China

By Editors | 09/05/2023

BNP Paribas will partner with Bank of China to launch an e-CNY services for corporate clients and explore the CBDC’s use in supply chain finance and other areas.

Cryptocurrency

US SEC Ordered to Respond to Coinbase Petition Within 10 Days

By Editors | 08/05/2023

The SEC must indicate whether or not it will provide formal rule-making for the digital assets sector, and the reasons for its decision.

Cryptocurrency

New Bill Unveiled to Strengthen Crypto Regulation in New York

By Manesh Samtani | 08/05/2023

The CRPTO Act would ban the use of the term “stablecoin”  except for digital assets backed 1:1 with the safest of reserve assets. Crypto platforms would have to reimburse fraud losses.

Cybersecurity

NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

By Editors | 07/05/2023

BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.

Market Abuse

Ex-OpenSea Manager Convicted for NFT Insider Trading Scheme

By Editors | 05/05/2023

Nathaniel Chastain chose which NFTs to feature on OpenSea’s home page and then covertly traded those NFTs, altogether making about $57,000 in profits.

Payments & Settlements

RBI, BIS Launch G20 TechSprint Focusing on Cross-border Payments

By Editors | 05/05/2023

The 2023 TechSprint will focus on technology solutions to address illicit finance risk, FX and liquidity solutions, and technology for CBDC platforms.

Cryptocurrency

Taiwan to Release New Rules for Crypto in September

By Editors | 03/05/2023

The FSC is creating a new bureau that will be dedicated to the crypto sector, adding to its four existing bureaus.

Cryptocurrency

SFC Chief Julia Leung Offers View Into 2023 Priorities

By Manesh Samtani | 29/04/2023

Julia Leung said the SFC will issue the new virtual assets rules in May, and that it developing a free carbon emissions calculator tool to help SMEs in climate-related reporting.