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Emerging Prudential Risks
PBOC Issues Draft Law Aimed at Modernising Central Bank System
By Sanday Chongo Kabange | 27/10/2020
The draft law expands the PBOC’s role in preventing financial risks, assigns it responsibilities to society, and provides a legal basis for its CBDC, among other changes.
Anti-Money Laundering
US Agencies Target Cross-border Transfers in Proposed Rule Change
By Editors | 26/10/2020
Financial institutions will have to collect, retain, and transmit information related to any international transaction over $250, including those involving crypto assets.
CBDCs
China Pushes For Faster Launch of Digital Currency
By Sanday Chongo Kabange | 19/10/2020
The Shenzhen government is issuing 10 million yuan worth of digital currency for testing as part of ongoing DC/EP pilot tests.
Trading & Investment
MAS Grants BondEvalue Recognised Market Operator Licence
By Editors | 16/10/2020
BondEvalue operates BondbloX Bond Exchange, a blockchain-based exchange that allows for bonds to be traded in USD 1,000 lots.
Anti-Money Laundering
G7 Calls for Global Adoption of FATF Standards on VASPs
By Editors | 16/10/2020
Effective implementation of the FATF Standards, including the ‘travel rule’, is needed to combat a recent surge in ransomware attacks.
Emerging Prudential Risks
G20 Ministers Extend DSSI Debt Relief, Welcome FSB, FATF Efforts
By Manesh Samtani | 14/10/2020
The G20 finance ministers and central bank governors have agreed to extend debt relief for low-income countries for six months, and welcomed efforts by the FSB and FATF.
Emerging Prudential Risks
FSB Publishes Letter to G20 Ahead of Virtual Meeting
By Manesh Samtani | 14/10/2020
The letter describes the FSB’s work to address issues of financial innovation and technology, promote a resilient and integrated global financial system, and address market fragmentation.
Stablecoins
FSB Issues Final Recommendations on Regulating Global Stablecoins
By Editors | 13/10/2020
Global stablecoin arrangements are expected to adhere to all applicable regulatory standards and address risks to financial stability before commencing operation, the FSB says.
Anti-Money Laundering
US Justice Dept Publishes Cryptocurrency Enforcement Framework
By Editors | 13/10/2020
The framework provides a detailed threat overview, cataloging the three categories into which most illicit uses of cryptocurrency typically fall.
Payments & Settlements
FSB Publishes Roadmap on Enhancing Cross-Border Payments
By Editors | 13/10/2020
The roadmap seeks to address key challenges faced in cross-border payments including high costs, low speed, limited access and insufficient transparency.
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