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Cryptocurrency
Hong Kong’s Proposed Licensing Regime for VASPs
By Michael P Wong | 06/06/2021
Dechert partner Michael Wong looks at the potential impact of Hong Kong’s newly proposed licensing regime for virtual asset service providers.
Anti-Money Laundering
FCA Extends Temporary Registrations Regime for Cryptoasset Firms
By Sanday Chongo Kabange | 04/06/2021
A “significantly high number” of cryptoasset businesses are not meeting AML/CTF standards, a key part of obtaining registration with the FCA.
CBDCs
BOT Awards CBDC Contract to German Firm G+D
By Sanday Chongo Kabange | 03/06/2021
Bank of Thailand has plans to test the use of a retail CBDC within 2022 before full implementation over 3-5 years.
Cryptocurrency
Korea Designates FSS as Agency to Regulate Virtual Assets
By Sanday Chongo Kabange | 03/06/2021
The FSS will oversee the crypto industry, including in relation to AML rules imposed by the Act on Reporting and Using Specified Financial Transaction Information.
DeFi & Web3
DeFi May Be Subject to Licensing Requirement, Warns Thai SEC
By Sanday Chongo Kabange | 03/06/2021
The SEC warned that failure to obtain a licence for the issuance of digital tokens on DeFi platforms could be punishable under the Digital Assets Act.
Tokenisation
Bursa Malaysia Concludes Blockchain Bond POC with STACS
By Sanday Chongo Kabange | 03/06/2021
The collaborative efforts from the PoC have established a new ‘Bond in a Box’ operating model that shows commercial potentials, the project report says.
Cryptocurrency
2018 Circular Prohibiting Crypto Dealings Not Valid, RBI Clarifies
By Sanday Chongo Kabange | 01/06/2021
The RBI has clarified that its 2018 circular prohibiting cryptocurrency dealings is no longer valid, and should not be cited or quoted from.
Tokenisation
DBS Issues First STO on New Digital Exchange
By Sanday Chongo Kabange | 01/06/2021
The issuance paves the way for other issuers to access the capital markets through STO issuances as asset tokenisation turns mainstream, DBS says.
Cryptocurrency
Leveraged Crypto Trading Threatens Financial System: BOK
By Sanday Chongo Kabange | 31/05/2021
High leverage, price volatility and increased trading in crypto assets puts households at risk of financial damages, which could impact the financial system.
Cryptocurrency
Inner Mongolia Government Threatens Punishment for Crypto Mining
By Sanday Chongo Kabange | 28/05/2021
A new notice warns telecoms, big data centres and cloud computing companies of severe punishment if they engage in or facilitate crypto mining activities.
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