Digital Assets

CBDCs

BOT Enters Third Phase of CBDC Development

By Editors | 19/07/2020

The BOT is planning to expand CBDC use among large businesses and, in September, to transactions with the HKMA.

Custody & Infrastructure

BOK Takes Over Blockchain Authentication Tool BankSign

By Editors | 14/07/2020

BankSign was developed by Samsung SDS in collaboration with the Korea Federation of Banks to allow for easier customer authentication on different banks’ mobile apps.

Payments & Settlements

MAS, Temasek, JPM Complete Final Phase of Project Ubin

By Editors | 13/07/2020

The prototype that was built can integrate with other blockchain-based platforms and be used for cheaper, faster and safer cross-border payments and to settle foreign exchange transactions.

Custody & Infrastructure

China Allows Foreign Bank Branches to Enter Fund Custody Business

By Editors | 12/07/2020

Applicant banks must be of “high quality”, specifically in relation to risk management, international reputation, operating performance, profitability and market share.

CBDCs

PBOC Partners with Didi Chuxing to Test Digital Currency

By Editors | 10/07/2020

The PBOC has established a partnership with ride-hailing firm Didi Chuxing to test its digital currency in payments.

Anti-Money Laundering

Revised FATF Standards ‘Clearly Apply’ to Stablecoins

By Editors | 09/07/2020

Stablecoins are better placed than many virtual assets to achieve mass-adoption, which makes them vulnerable to AML/CTF risk, the FATF says.

Anti-Money Laundering

FATF Highlights Progress to Adopt AML Standards for Virtual Assets

By Manesh Samtani | 08/07/2020

35 of 54 reporting jurisdictions have implemented the FATF Standards on virtual assets and VASPs, and progress has been made to develop technology for travel rule implementation.

Anti-Money Laundering

FATF Progresses Key Initiatives at June 2020 Plenary

By Editors | 30/06/2020

The Plenary discussed progress on virtual assets, stablecoins, illegal wildlife trade, and work on an enhanced framework for mutual evaluations and follow-up.

Anti-Money Laundering

NZ Police Seize $90m Allegedly Laundered with Bitcoin

By Editors | 25/06/2020

The seized bank funds, said to be connected to suspected Russian money launderer Alexander Vinnik, represent the largest ever asset restraint in New Zealand police history.