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Cryptocurrency
DBS Vickers Receives ‘In-principle Approval’ to Provide DPT Services
By Editors | 12/08/2021
DBS Vickers is working through the necessary follow-ups with a view to meeting MAS’ requirements for a digital payment token services licence.
Anti-Money Laundering
BitMEX to Pay $100m in Civil Penalties for US Regulatory Breaches
By Editors | 12/08/2021
BitMEX unlawfully accepted orders and funds from US customers to trade cryptocurrencies and failed to have in place an AML and user verification programme.
DeFi & Web3
DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021
By Sanday Chongo Kabange | 11/08/2021
In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.
CBDCs
Cambodia Explores Cross-border Transactions Using ‘Bakong’
By Editors | 10/08/2021
Cambodia launched its Bakong digital currency in October 2020. In the first half of 2021, 1.4 million transactions worth $500mn were recorded.
CBDCs
Bank of Korea CBDC Pilot to Kick off This Month
By Editors | 09/08/2021
Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.
Payments & Settlements
CPMI Workplan Highlights Focus on Stablecoins, CBDCs
By Editors | 06/08/2021
CPMI annual work programme highlights cross-border payments, stablecoins, CBDCs, central clearing and FMI risks as key priorities.
Cryptocurrency
China’s Opposition to Cryptocurrency is Ideological – Report
By Manesh Samtani | 05/08/2021
A new Chainalysis report explains China’s crackdown on cryptocurrency, the country’s role in crypto-related crime, and the implications of a digital yuan.
Payments & Settlements
India Launches New Digital Payment Solution Nationwide
By Manesh Samtani | 04/08/2021
e-RUPI is a QR code or SMS string-based prepaid e-voucher that can be used for purchases without an app, card, bank account, or internet access.
Cryptocurrency
Korean Crypto Exchanges Start to Close Amid Regulatory Pressure
By Editors | 04/08/2021
Up to 11 cryptocurrency exchanges in Korea are planning to shut down after their deposit accounts were linked to fraudulent activities.
Cryptocurrency
Bangladesh Bank Reiterates Ban on Cryptocurrency
By Sanday Chongo Kabange | 04/08/2021
Bangladesh Bank sought to clarify its stance after reports emerged suggesting that crypto transactions are only illegal if they are linked to other crimes.
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