Digital Assets

PEPs & Sanctions

US Prosecutors Target Foreign Bank Records in North Korean Cyber Hunt

By Nick Turner | 05/05/2020

US authorities may be signalling their intent to increasingly use the PATRIOT Act to gain access to foreign bank records in DPRK sanctions investigations, says Nick Turner at Steptoe & Johnson.

Cryptocurrency

FSA Japan Certifies Two SROs as New Crypto Laws Take Effect

By Editors | 04/05/2020

The certifications took effect from 1 May, the same day the FSA said it would start enforcing new laws on crypto assets.

CBDCs

PBOC Launches Digital Yuan Pilot Tests in Four Cities – Reports

By Editors | 20/04/2020

Four state-owned banks and three telecom companies, along with Tencent and Alipay, are all said to be involved in the development of the digital currency.

Custody & Infrastructure

Two Singapore Bodies Merge to Form New Blockchain Association

By Editors | 15/04/2020

The new industry body will be co-chaired by SFA president Chia Hock Lai and OneConnect Financial Technology’s APAC chief Ms Tan Bin Ru.

Stablecoins

FSB Offers Recommendations on Regulating Global Stablecoins

By Editors | 14/04/2020

The consultative report proposes 10 high-level recommendations for jurisdictional authorities to advance consistent and effective regulation and supervision of global stablecoin arrangements.

Payments & Settlements

FSB Publishes Stage 1 Report on Enhancing Cross-Border Payments

By Editors | 09/04/2020

New technologies have the potential to facilitate fast, low cost, transparent and scalable payments, but should be accompanied by measures to address all relevant risks.

Cryptocurrency

FSA Japan to Enforce New Crypto Laws from May

By Editors | 07/04/2020

Changes to two pieces of legislation will ensure better investor protection, and bring custodians, ICOs, STOs and crypto derivatives under the FSA’s remit.

CBDCs

BOK Launches 22-Month Pilot Programme to Test CBDC Issuance

By Editors | 06/04/2020

Under the 22-month plan, the BOK will set up a CBDC pilot system and explore the technical and legal issues surrounding its introduction in Korea.

Stablecoins

Securities Market Principles Can Be Applied to Stablecoins: IOSCO

By Editors | 25/03/2020

Preliminary analysis concludes that the Principles for Financial Market Infrastructures could apply to the global stablecoin arrangements, among other principles and standards.