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Cryptocurrency
Korean Crypto Exchanges Face “Existential Crisis” – Report
By Sanday Chongo Kabange | 27/05/2021
Crypto exchanges have until 24 September to partner with banks on real-name accounts as a requirement for a business licence from the FSC.
CBDCs
Bank Indonesia Explores CBDC as Legal Payment Instrument
By Editors | 26/05/2021
The central bank is assessing which platform and technology it will use to issue a digital rupiah as a legal digital payment instrument in Indonesia.
CBDCs
Bank of Korea Seeks Technology Partner to Test CBDC
By Sanday Chongo Kabange | 25/05/2021
The testing and simulation exercise will be conducted in two phases, the first involving the creation, issuance and redemption of a digital won.
Structural Regulation
Australia: Senate Committee to Probe ‘Debanking’ of Fintechs
By Ranamita Chakraborty | 25/05/2021
The government needs to better understand the policy issues which may be leading to debanking so that they can be addressed, said Senator Andrew Bragg.
Anti-Money Laundering
US Treasury Paper Outlines Proposal for New Tax Reporting Regime
By Sanday Chongo Kabange | 24/05/2021
The paper proposes that transfers involving crypto assets worth more than USD 10,000 be reported to the IRS under the new reporting regime.
Anti-Money Laundering
Hong Kong to Bar Retail Investors from Crypto Trading
By Manesh Samtani | 24/05/2021
Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.
CBDCs
Infrastructure Critical for Successful CBDC Development – Report
By Sanday Chongo Kabange | 22/05/2021
A new report analyses the four axes of consideration for the design features of all CBDCs, as proposed by the IMF, and the implications each choice has on infrastructure.
CBDCs
CBDCs Present Central Banks with Risk-Benefit Trade-off: Fitch
By Sanday Chongo Kabange | 20/05/2021
The potential for funds to move quickly into CBDC accounts could cause credit strains in some banks and push up interest rates.
Cryptocurrency
China Renews Crackdown on Cryptocurrencies
By Manesh Samtani | 19/05/2021
Three state-backed associations representing internet firms, banks, and payments companies have barred their members from providing crypto-related services to customers.
Cryptocurrency
RBI Asks Banks to Cut Ties With Cryptocurrency Exchanges
By Sanday Chongo Kabange | 17/05/2021
The unofficial guidance comes as Indian lawmakers look to introduce a ban on cryptocurrencies and penalise anyone dealing in them.
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