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CBDCs
The Role of Digital ID in Advancing CBDC Initiatives
By Claus Christensen | 24/08/2021
The presence of digital ID infrastructure can influence the design and roll-out of CBDC initiatives, writes Claus Christensen.
Anti-Money Laundering
Upbit Becomes First Crypto Exchange to Register With KoFIU
By Editors | 24/08/2021
Upbit has a partnership with K-bank for real-name verification. One or two more exchanges are expected to register by end-August.
Structural Regulation
Taiwan FSC Eases Rules for Overseas Branches of Securities Firms
By Editors | 22/08/2021
Securities firms will be allowed to offer foreign currency custody services at overseas branches with a net value of TWD 4 billion, compared to TWD 10 billion previously.
CBDCs
China: More Smaller Lenders Set to Join Digital Yuan Pilot
By Sanday Chongo Kabange | 22/08/2021
City Commercial Banks Clearing Company and the Rural Credit Bank Funds Clearing Centre have launched “one point integration” digital yuan systems.
Cryptocurrency
ASIC Warns Against Unlicensed Crypto Derivatives Trading
By Sanday Chongo Kabange | 19/08/2021
ASIC has received reports that investors who used unlicensed crypto-trading platforms have suffered losses due to excessive leverage, platform outages, or unfair liquidations.
Anti-Money Laundering
Darkweb Blockchain Analytics Tool Gets Shut Down
By Ranamita Chakraborty | 19/08/2021
A service that was being used by criminals to check whether their own bitcoin wallets were linked to criminal activity has been shut down.
Anti-Money Laundering
All VASPs Unprepared for New AML Rules, FSC Korea Finds
By Manesh Samtani | 18/08/2021
Even VASPs with real-name accounts in place do not have dedicated employees in place for AML or adequate systems for suspicious transactions reporting.
Anti-Money Laundering
FSC Korea to Establish Virtual Asset Division Within KoFIU
By Sanday Chongo Kabange | 17/08/2021
The new division will oversee the adoption and implementation of the FATF recommendations on digital assets and VASPs.
Fraud, Scams & Cybercrime
Poly Network Hackers Return Almost All of Stolen Funds
By Sanday Chongo Kabange | 13/08/2021
Hackers have returned nearly all of the USD 613 million worth of digital tokens stolen on Tuesday, says Poly Network.
Payments & Settlements
Cambodia, Maybank Launch Cross-border Remittances Using ‘Bakong’
By Pongnut Thanaboonchai | 12/08/2021
Maybank customers in Malaysia can use the bank’s e-wallet to transfer funds to recipients in Cambodia with Bakong e-wallets.
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