Digital Assets

Cryptocurrency

SFC Consults on New Licensing Regime for Crypto Trading Platforms

By Manesh Samtani | 20/02/2023

The consultation sets out requirements under the new licensing regime, including safeguards for retail investors, travel rule requirements, and maximum penalties for misconduct.

Anti-Money Laundering

Hong Kong Re-rated on Two FATF Recommendations

By Manesh Samtani | 20/02/2023

Hong Kong was upgraded for extending AML/CFT supervision to most DNFBP sectors, but downgraded for virtual asset-related deficiencies.

Trading & Investment

Marketnode, NowCM Join Forces to Digitalise APAC Debt Markets

By Editors | 20/02/2023

SGX’s Lee Beng Hong said the new digital service will enhance bond issuance efficiency and streamline processes for dealing with regulators, lawyers and listing agents.

DeFi & Web3

GBBC Digital Finance Joins IOSCO as Affiliate Member

By Editors | 20/02/2023

GBBC Digital Finance will this year prioritising work to construct a DeFi education and engagement platform.

CBDCs

Russia to Launch CBDC Consumer Pilot in April With 13 Banks

By Editors | 20/02/2023

The 13 participating banks have “passed all tests” to confirm their technical readiness to start the pilot with a limited number of clients.

Cryptocurrency

US SEC Fines Former NBA Star Over Crypto Promotion

By Editors | 20/02/2023

Paul Pierce promoted crypto asset securities known as EMAX tokens on social media without disclosing that he was paid to do so.

CBDCs

BOJ Confirms Plans to Launch CBDC Pilot Programme in April

By Editors | 19/02/2023

The BOJ will conduct simulated digital yen transactions with private firms starting in April to test the “end-to-end” process flow and identify connectivity challenges.

Capital Adequacy

EU Banks Will Have to Meet 1,250% Crypto Risk Weight Early

By Manesh Samtani | 19/02/2023

A draft law confirms that the 1,250% risk weight set by the BCBS will apply to crypto asset exposures. But EU banks are asked to comply before the rule is legally binding.

Anti-Money Laundering

All Crypto ATMs Operating in the UK Are Illegal: FCA

By Editors | 18/02/2023

No crypto ATM operators currently have FCA registration, but the locations of several such machines have been established by authorities.