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DeFi & Web3
‘Substantial Changes” Needed to Fully Reap Benefits of DeFi: BIS
By Sanday Chongo Kabange | 19/06/2022
A new BIS bulletin highlights a growing trend in DeFi to rely on forms of centralisation, and a need for it to ultimately fall within the regulatory umbrella.
Cryptocurrency
Shanghai Strengthens Efforts to Curb Crypto Mining
By Darien Choong | 17/06/2022
Crypto mining has continued in China despite a government ban on such activities since May 2021.
Custody & Infrastructure
Russia Launches Blockchain-Based Alternative to SWIFT
By Editors | 14/06/2022
Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.
Cryptocurrency
Australia: New Govt to Push Ahead with BNPL, Crypto Regulation
By Editors | 14/06/2022
The government will also continue a consultation process started by Josh Frydenberg on a regulatory framework for the crypto sector.
CBDCs
Bangladesh Bank to Assess Feasibility of Introducing CBDC
By Editors | 14/06/2022
A CBDC is needed to facilitate the growth of digital transactions and encourage startups and e-commerce businesses, the finance minister said.
DeFi & Web3
Regulating the Metaverse: A “Metacode” of Conduct
By Kanv Pandit | 14/06/2022
Kanv Pandit highlights the need for a ‘metacode of conduct’ to protect metaverse users from loss and fraud until regulation catches up.
Cryptocurrency
ADDX to Recognise Crypto Assets for Investor Onboarding
By Sanday Chongo Kabange | 14/06/2022
ADDX will begin recognising bitcoin and ether using a 50 percent haircut and stablecoin USDC using a 10 percent haircut.
Structural Regulation
UK, Japan Formalise Arrangements on Regulatory Cooperation
By Editors | 13/06/2022
UK and Japan participants agreed to establish an innovation working group to provide a space for collaboration on payments, cryptoassets and financial innovation.
Fraud, Scams & Cybercrime
Korean Police Probe Possible Embezzlement at Terraform Labs
By Editors | 13/06/2022
Crypto exchanges are also being asked to draft guidelines on the listing and delisting of digital tokens, so as to protect investors from another Terra-like collapse.
Anti-Money Laundering
Japan Ministry Seeks Powers to Confiscate Crypto Assets
By Editors | 12/06/2022
Japan’s organised crime law currently only allows seizures of real property, movable assets and monetary claims, but not crypto assets.
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