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CBDCs
G7 Ministers Endorse Public Policy Principles for Retail CBDC
By Editors | 15/10/2021
Any CBDC must support, and ‘do no harm’ to, the ability of central banks to fulfil their mandates for monetary and financial stability.
Cryptocurrency
S. Korean Legislators Seek to Delay Cryptocurrency Taxation
By Sanday Chongo Kabange | 14/10/2021
Lawmakers are proposing to delay plans to tax cryptocurrency gains by one year to 2023, and to impose a more generous tax framework.
Cryptocurrency
China Names Crypto Mining as Prohibited Activity on ‘Negative List’
By Sanday Chongo Kabange | 14/10/2021
China’s latest ‘negative list’ removes six industries, while introducing new restrictions for the media, finance and cryptocurrency sectors.
CBDCs
G7 Ministers to Endorse Guiding Principles for CBDC – Report
By Editors | 13/10/2021
The principles call for appropriate regulation and oversight, rigorous privacy and data protection standards, and safeguards to prevent fraud and sanctions evasion.
Payments & Settlements
Sri Lanka: CBSL Collaborates with Industry on Inward Remittances
By Duruthu E Chandrasekera | 12/10/2021
The central bank is working with banks, mobile operators, and government agencies to launch a new mobile app for inward remittances.
Emerging Prudential Risks
FSB Reports Progress on NBFI Risks, Cross-border Payments
By Editors | 12/10/2021
A letter to the G20 ministers from the FSB focuses on work to develop a more resilient NBFI sector and address challenges in cross-border payments.
CBDCs
Laos Central Bank to Explore CBDC Issuance
By Sanday Chongo Kabange | 11/10/2021
To help explore the feasibility of a CBDC, the Bank of the Lao PDR has enlisted Japanese fintech Soramitsu, which also help developed Bakong in Cambodia.
Cryptocurrency
S. Korea to Start Taxing Cryptocurrency Gains Next Year
By Sanday Chongo Kabange | 10/10/2021
Any further delay will lead to “the loss of public trust in government policy and undermine stability in the legal system”, said finance minister Hong Nam-ki.
DeFi & Web3
Malaysia SC Orders Decentralised Exchanges to Halt Operations
By Mark Johnston | 10/10/2021
Entities interested in operating a decentralised exchange in Malaysia should apply to be registered as an RMO, the SC said.
Stablecoins
FSB Takes Stock of Progress to Regulate ‘Global Stablecoins’
By Mark Johnston | 08/10/2021
The FSB highlights concerns that new regulatory regimes for global stablecoins could give rise to regulatory arbitrage and harmful market fragmentation.
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