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Cryptocurrency
Ripple Files Response to US SEC Defending XRP as Virtual Currency
By Editors | 31/01/2021
The response notes that the DOJ, FinCEN and regulators in the UK, Singapore and Japan have all concluded that XRP is a virtual currency not subject to securities regulation.
CBDCs
More Central Banks Advancing CBDC Work: BIS Report
By Manesh Samtani | 29/01/2021
CBDCs need to be linked to a digital identity in order to be useful in achieving financial inclusion, said BIS general manager Agustín Carstens.
Custody & Infrastructure
BSP Updates VASP Rules to Align with FATF Requirements
By Editors | 28/01/2021
The updated rules also bring into scope virtual asset custodians, introducing a $1mn minimum capital requirement for such businesses.
Tokenisation
OECD Paper Identifies Regulatory Issues in Asset Tokenisation
By Editors | 27/01/2021
As markets for tokenised assets develop and grow in size, so too will the need to safeguard investors, consumers and financial stability.
Fraud, Scams & Cybercrime
Tokyo Police Arrest 31 Individuals Over 2018 Coincheck Heist
By Editors | 25/01/2021
The suspects were found to have traded stolen cryptocurrency on an underground exchange that emerged on the dark web following the Coincheck heist.
Anti-Money Laundering
Anti-Money Laundering a Priority for Incoming Treasury Secretary Yellen
By Manesh Samtani | 24/01/2021
Incoming Treasury Secretary Janet Yellen thanked Congress for passing the AMLA, widely considered to be the most significant overhaul of AML legislation in the US since 2001.
Cloud & Infrastructure
BIS Innovation Hub Sets Out 2021 Work Programme
By Manesh Samtani | 24/01/2021
Six thematic priorities have been set out: suptech and regtech; next-generation FMIs; CBDCs; open finance; green finance; and cyber security.
Tokenisation
SGX, Temasek Partner on Digital Asset Infrastructure in Capital Markets
By Editors | 23/01/2021
A new JV will use blockchain-based technologies to provide an issuance-to-settlement network for Asia bonds, funds and sustainable finance products.
Emerging Prudential Risks
FSB Publishes Work Programme for Year Ahead
By Editors | 20/01/2021
The work programme includes initiatives to strengthen NBFI resilience, enhance cross border payments, and address climate change, among other priorities.
Anti-Money Laundering
Japan Regulators Order Crypto Exchange to Improve AML Systems
By Editors | 02/01/2021
Avacus Co Ltd must build an AML/CTF risk management system that ensures transactions are confirmed and recorded at the time of transaction.
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