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Payments & Settlements
Australian Regulators Propose New Regulatory Regime for SVFs
By Editors | 10/11/2020
The proposed framework includes flexibility to ensure that regulation is able to adapt to innovations such as digital wallet facilities and global stablecoins.
CBDCs
HKMA Seeks ‘Multi-CBDC Platform’ to Enhance Cross-border Payments
By Manesh Samtani | 04/11/2020
Project Inthanon-LionRock with the BOT is entering its second phase, which will have participation from HKEX, 19 banks, and five corporates.
Anti-Money Laundering
FSC Korea to Introduce FATF-aligned AML Rules for VASPs
By Editors | 04/11/2020
Under the new rules, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transactions worth more than KRW 1 million.
Payments & Settlements
Hong Kong, China Successfully Connect Trade Finance Platforms
By Manesh Samtani | 03/11/2020
Seven banks have already used the connection to conduct cross-border trade financing transactions, with the total trade value exceeding HK$26mn.
Anti-Money Laundering
Hong Kong to Align Crypto Regulatory Framework with FATF Standards
By Manesh Samtani | 03/11/2020
The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.
Anti-Money Laundering
Singapore Bill to Align Payment Services Act with FATF Standards
By Editors | 03/11/2020
The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.
CBDCs
RBA Launches New Project to Explore Wholesale CBDC
By Editors | 03/11/2020
The RBA has partnered with CBA, NAB, Perpetual and ConsenSys to explore if there is a future role for a wholesale CBDC in the Australian payments system.
CBDCs
Cambodia Launches Central Bank Backed Digital Currency
By Editors | 28/10/2020
The digital currency, known as Bakong, allows users to transfer money using a mobile app by scanning QR codes or inputting the recipient’s phone number.
Tokenisation
Malaysia’s Guidelines on Digital Assets Enter Into Force
By Editors | 28/10/2020
The Securities Commission invites parties interested in registering as IEO platform operators or digital asset custodians to start submitting their applications.
Tokenisation
DBS to Launch Digital Exchange, Subject to Regulatory Approvals
By Editors | 28/10/2020
The exchange will offer trading services from fiat currencies to four of the top digital currencies in circulation, as well as capital raising through STOs.
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