Digital Assets

Cryptocurrency

BOT Warns Against Using Crypto As Means of Payment

By Sanday Chongo Kabange | 18/07/2021

If the use of digital assets as a means of payment for goods and services become widespread, the BOT will take action in coordination with the SEC.

Tokenisation

SFC Issues Warning on Unregulated Virtual Asset Platforms

By Editors | 18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

CBDCs

Vietnam to Explore Creation of Digital Currency

By Sanday Chongo Kabange | 18/07/2021

Vietnam’s strategy on digitising the local government includes directions for the SBV to pilot the use of a digital currency.

CBDCs

ECB Launches Multi-year Digital Euro Project

By Ranamita Chakraborty | 15/07/2021

The plan is to allow regulated banks and fintechs to open accounts at the ECB so they can offer digital euro wallets to customers.

CBDCs

BOK Unveils Firms Seeking to Participate in CBDC Project

By Sanday Chongo Kabange | 15/07/2021

Units of SK Group, Naver and Kakao are the three firms competing to work on a CBDC project which will commence next month.

Cryptocurrency

Korea to Require Overseas Crypto Exchanges to Register with KoFIU

By Editors | 14/07/2021

Cryptocurrency exchanges based outside Korea would be required to register with KoFIU if they use the Korean won for settlement.

CBDCs

Multilateral Collaboration Essential for CBDC Development

By Editors | 13/07/2021

A new report from CPMI, BIS Innovation Hub, the IMF and the World Bank highlights the need for multilateral collaboration and interoperability between CBDCs.

Anti-Money Laundering

Stablecoins Increasingly Used in Money Laundering, PBOC Says

By Editors | 12/07/2021

PBOC governor Fan Yifei says stablecoins are increasingly being used as a tool for illegal activities and money laundering.

CBDCs

MAS, Banque de France Complete m-CBDC Experiment

By Sanday Chongo Kabange | 11/07/2021

The experiment showed the potential to reduce the number of correspondent banking parties involved in the payment chain for cross-border transactions.