Digital Assets

CBDCs

DBS Launches e-CNY Merchant Collection Solution

By Editors | 07/07/2023

DBS plans to build on the launch of the e-CNY solution to explore new digital payment solutions, including cross-border CBDC payments.

Cryptocurrency

FSC Korea to Require Employees to Report Crypto Holdings

By Editors | 07/07/2023

Employees that perform official duties related to the virtual assets sector will have to report their holdings to the FSC.

Resolution & Recovery

FSB to Conduct “In-depth” Review of G-SIB Resolution Framework

By Manesh Samtani | 07/07/2023

FSB members also approved the high-level recommendations for crypto-assets and stablecoins, which will be submitted to the G20 for endorsement this month.

Cryptocurrency

Korea to Start Work on Second Phase of Crypto Legislation

By Editors | 06/07/2023

The next phase of legislation will introduce rules for the issuance and distribution of virtual assets, as well as a regulatory system for stablecoins.

Anti-Money Laundering

FATF to Bring “Fundamental Change” to Financial Crime Fight

By Karen Ng | 06/07/2023

FATF would scale up its fight against financial crime and bring comfort to victims through better asset recovery.

Anti-Money Laundering

Upper House of UK Parliament Approves Economic Crime Bill

By Editors | 05/07/2023

The bill will boost corporate transparency, enable more effective seizure and recovery of crypto assets, and introduce new ‘failure to prevent’ offences.

Cryptocurrency

Korea Launches New Alerting System for Abnormal Crypto Activity

By Editors | 04/07/2023

DAXA said the alert messages will be triggered by sudden price changes and spikes in trading or deposit volumes, among other indicators.

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.