Digital Assets

CBDCs

BOE Publishes Primer Explaining Plans for Possible CBDC

By Editors | 09/06/2022

The BOE will seek views from the public later this year about the possible issuance of a CBDC in the “second half of the decade” at the earliest.

Stablecoins

NYDFS Issues Regulatory Guidance for Stablecoin Issuers

By Editors | 09/06/2022

The guidance outlines criteria specifically addressing stablecoin redeemability, asset reserve requirements, and independent audit requirements.

Cryptocurrency

US SEC Reportedly Probing Binance 2017 Token Offering

By Editors | 09/06/2022

The SEC is also investigating market making companies owned by Binance’s CEO and whether company insiders may have engaged in trading abuses.

Market Abuse

Old Misconduct Patterns Are Repeating in New Settings: FMSB

By Editors | 08/06/2022

Forms of misconduct which have been present for hundreds of years are playing out in new digital asset classes, including crypto assets and NFTs.

Anti-Money Laundering

DOJ Calls for Stronger International Cooperation on Crypto Crime

By Editors | 08/06/2022

The paper says the US should help foreign nations develop the tools, technical expertise, and infrastructure necessary to conduct complex crypto-related investigations.

Fraud, Scams & Cybercrime

Investment Scams On the Rise in Australia: ACCC

By Editors | 08/06/2022

Australia has seen a sharp increase in investment scams this year. Text messages have become the most common scam contact mode.

Cryptocurrency

US Senators Propose Regulatory Framework for Crypto Assets

By Manesh Samtani | 08/06/2022

The CFTC would be granted authority over crypto spot markets, based on the understanding that “most digital assets are more similar to commodities than securities”.

Cryptocurrency

BIS Paper Explains Why Crypto Cannot Function as Money

By Editors | 08/06/2022

Fragmentation without interoperability implies that cryptocurrencies cannot fulfil the role of money as a coordination device, the paper says.

Tokenisation

Hong Kong SFC Issues Warning on NFT-related Risks

By Editors | 06/06/2022

Some NFTs have ‘crossed the boundary’ between a collectible and a financial asset, which would bring them under the SFC’s remit and require licensing.