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CBDCs
RBI Launches Pilot to Test CBDC with Consumers, Merchants
By Editors | 02/12/2022
The participating banks are State Bank of India, ICICI Bank, Yes Bank, IDFC First Bank, Bank of Baroda, Union Bank of India, HDFC Bank and Kotak Mahindra Bank.
Fraud, Scams & Cybercrime
Korean Prosecutors Seek More Terra-related Arrest Warrants
By Editors | 01/12/2022
New arrest warrants are sought for co-founder Daniel Shin, as well as Terraform Labs investors and engineers.
Cryptocurrency
MAS Grants MetaComp Licence to Offer DPT Services in Singapore
By Editors | 01/12/2022
MetaComp, a unit of MetaVerse Green Exchange, is now able to offer regulated digital payment token services in Singapore.
Cryptocurrency
Singapore Deputy PM Defends Temasek Over FTX Loss
By Manesh Samtani | 01/12/2022
The FTX loss is disappointing, but it does not imply that the governance system is not working, deputy PM Lawrence Wong said.
Payments & Settlements
More Than 500 Banks Have Now Adopted ‘Swift Go’
By Editors | 30/11/2022
Swift outlines progress made in 2022 toward the G20’s goals for enhancing cross-border payments, including through CBDC experimentation.
Cryptocurrency
Lawmakers Propose Bill to Prevent FTX-Style Collapse in Korea
By Editors | 30/11/2022
The bill, if passed, will require crypto exchanges to segregate users’ assets, buy insurance against hacking, and compensate users for unexpected withdrawal halts.
Capital Adequacy
MAS Plans to Adopt BCBS Risk Weights for Cryptoassets
By Manesh Samtani | 30/11/2022
MAS will require Singapore banks to apply a 1250% risk weight for exposures to Bitcoin and Ether, pending the finalisation of the BCBS framework.
Cryptocurrency
IOSCO to Develop Regulatory Guidance for Crypto Market
By Editors | 30/11/2022
IOSCO chair Jean-Paul Servais said new standards for regulating “crypto conglomerates” are an “obvious necessity.”
Fraud, Scams & Cybercrime
UK Crypto Fraud Increased 32pc Over One Year Period
By Editors | 30/11/2022
UK police unit Action Fraud said crypto-related fraud losses from October 2021 to September 2022 amounted to $270mn.
PEPs & Sanctions
OFAC Fines Crypto Firm Kraken for Iran Sanctions Violations
By Editors | 30/11/2022
Kraken was facing a maximum fine of over $272mn. The $362,000 settlement reflects OFAC’s determination the violations were “non-egregious and voluntarily self-disclosed”.
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