Digital Assets

CBDCs

China Almost Ready to Release Central Bank Digital Currency

By Editors | 13/08/2019

PBOC deputy director for payments Mu Chungchun said the new digital currency and electronic payment system that would not rely entirely on blockchain.

Fraud, Scams & Cybercrime

UN Report: North Korea Still Accessing International Financial System

By Editors | 09/08/2019

The report says North Korea has amassed $2bn from cyberattacks on banks and crypto exchanges, and that it has about 30 overseas representatives helping it evade sanctions.

Anti-Money Laundering

Korea’s FIU Seeks Direct Supervision Over Crypto Exchanges

By Editors | 08/08/2019

Currently, the Financial Intelligence Unit only indirectly regulates cryptocurrency exchanges in Korea through the administrative guidance it issues for banks.

Cryptocurrency

Global Crypto Trading Should be Guided by IOSCO Principles: WFE

By Editors | 03/08/2019

“Innovation which has the potential to present systemic risk or is allowed to operate in an unchecked or unregulated manner is detrimental to financial markets and investor interests.”

Cryptocurrency

Govt Panel Formally Recommends Complete Crypto Ban in India

By Manesh Samtani | 24/07/2019

An inter-ministerial committee has formally recommended a complete ban on cryptocurrencies in India and to punish any crypto-related activity with up to 10 years’ jail.

CBDCs

BOT Concludes Project Inthanon’s Second Phase

By Manesh Samtani | 22/07/2019

Phase 2 used smart contracts to automate bond lifecycle events, and introduced pre-validation to reduce error and fraud in funds transfers. Phase 3 will be a joint effort with the HKMA.

Cryptocurrency

Philippine SEC Consults on Draft Rules for Digital Asset Exchanges

By Manesh Samtani | 19/07/2019

The rules specify capital requirements of PHP 100mn, plus 12 months of operating expenses, and allow digital asset exchanges in the Philippines to be set up by foreign-registered entities.

Anti-Money Laundering

Thailand to Mandate Extra Reporting Rule for Digital Asset Trades

By Editors | 19/07/2019

Digital asset exchanges will have to report all trades exceeding 5 million baht to commercial banks, which will then report the transactions to the Thailand’s Anti-Money Laundering Office.

Cryptocurrency

Leaked Draft Shows India’s Zero-Tolerance for Cryptocurrency

By Editors | 17/07/2019

The leaked draft bill being circulated, though unauthenticated, specifies up to 10 years’ jail for buying, selling or storing cryptocurrency in India.