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Fraud, Scams & Cybercrime
DPRK Cyber Crime Group Increasingly Active in S Korea
By Editors | 18/05/2020
The primary targets of the cyberattacks are cryptocurrency traders, exchanges and others who work in the field, according to cyber security firm ESTsecurity.
Cryptocurrency
MAS Sets Out Regulatory Approach for Payment Token Derivatives
By Editors | 18/05/2020
MAS will regulate payment token derivatives offered by approved exchanges – i.e. SGX Derivatives, APEX, Ice Futures – but will not regulate such products offered by other entities.
Stablecoins
Temasek Joins Libra Association as First Asia Pacific Backer
By Editors | 17/05/2020
Temasek’s participation in the Libra Association will allow it to contribute toward a regulated global network for cost effective retail payments.
Anti-Money Laundering
Industry Bodies Publish New Messaging Standard for Virtual Assets
By Editors | 13/05/2020
The messaging standard is aimed at helping virtual asset service providers comply with FATF requirements to collect and transfer originator and beneficiary information.
Custody & Infrastructure
China to Allow Foreign Banks’ Local Branches Fund Custody Licence
By Editors | 12/05/2020
Under the trade agreement with the US in January, China committed to allowing branches of US financial institutions to provide fund custody services in the country within five months.
Trading & Investment
SGX, AMTD Enter Partnership on Capital Markets Development
By Editors | 05/05/2020
The partnership will seek to promote Singapore’s capital market development, strengthen regional connectivity, support businesses, and explore the use of DLT in bond issuance.
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.
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