Digital Assets

Cloud & Infrastructure

BOT Offers Update on Transition to Sustainable Digital Economy

By Editors | 29/03/2022

The BOT will publish a virtual bank licensing framework by Q2 2022, and directions on its open banking policy in Q3 2022.

Tokenisation

Alibaba, Tencent Tighten Platform Rules Governing NFTs – Report

By Darien Choong | 29/03/2022

NFTs in China are sold in yuan rather than crypto, do not use public decentralised blockchains, and cannot be resold after purchase.

CBDCs

Bank of Japan Concludes Phase One CBDC Testing

By Editors | 28/03/2022

Phase one testing explored the feasibility of CBDC issuance, distribution and redemption. Phase two will test additional functions starting next month.

Cryptocurrency

BOT to Cap Bank Investment in Digital Asset Businesses

By Editors | 27/03/2022

Thai banks will be allowed to invest up to 3 percent of capital in digital asset businesses. Such investment must also be ring-fenced from core banking operations.

Cryptocurrency

OECD Proposes Tax Reporting Framework for Crypto-assets

By Editors | 27/03/2022

The framework would require intermediaries to identify their customers and their tax jurisdictions, and then report their aggregate transaction values annually.

DeFi & Web3

IOSCO Forms New Task Force Targeting DeFi Regulation

By Manesh Samtani | 26/03/2022

The task force, chaired by MAS assistant managing director Tuang Lee Lim, will help coordinate policy action to address the risks in DeFi.

Anti-Money Laundering

FSC Korea Starts Enforcing Travel Rule in Crypto Industry

By Editors | 24/03/2022

Starting today, VASPs can be subject to cautions, warnings or corrective orders if violations of travel rule requirements are found.

DeFi & Web3

FSB Calls for Academic Papers Covering Crypto, DeFi Risks

By Editors | 24/03/2022

The FSB is inviting authours to submit papers analysing the structures and evolving linkages between crypto-asset markets for an upcoming plenary session.

Cryptocurrency

Malaysian Minister Rules Out Possibility of Bitcoin as Legal Tender

By Editors | 24/03/2022

Malaysia’s deputy finance minister said cryptocurrencies are not suitable for use in payments. Earlier this week another minister called for the government to adopt crypto as legal tender.