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Tokenisation
FSTB, SFC Declare Support for STO Business in Hong Kong
By Editors | 19/09/2022
The SFC’s Elizabeth Wong said firms that are interested in STOs are encouraged to discuss their proposals with the regulator’s Fintech unit.
Anti-Bribery & Corruption
Bank of East Asia Exec Detained in China for Taking Bribes
By Editors | 19/09/2022
The executive is accused of breaching credit rules and issuing loans in exchange for bribes. It is uncommon for executives of overseas banks to be detained in China.
Trading & Investment
Rosneft Becomes Third Russian Firm to Issue CNY Bonds
By Editors | 19/09/2022
The Rosneft deal marks the biggest bond sale ever by a Russian business. RUSAL and gold producer Polyus also recently issued yuan-dominated bonds.
Fraud, Scams & Cybercrime
Taiwan to Hold Directors Responsible for Fund Manager Fraud
By Editors | 19/09/2022
The FSC will be able to dismiss board members of investment firms or revoke their business licences entirely if fund managers are involved in fraud.
CBDCs
US Unveils Comprehensive Plans for Regulating Digital Assets
By Manesh Samtani | 18/09/2022
Reports released by the White House, Treasury, Commerce and DOJ will help ensure a coordinated and comprehensive approach to digital assets policy.
PEPs & Sanctions
OFAC Issues Guidance on Transacting With Tornado Cash
By Editors | 18/09/2022
US persons may request a specific licence from OFAC to complete transactions involving sanctioned crypto mixer Tornado Cash.
Fraud, Scams & Cybercrime
Taiwan Launches Early Warning System to Combat Fraud
By Darien Choong | 18/09/2022
Banks are required to apply additional scrutiny of overseas transfers requested by customers via bank counters, to ensure the transaction is not the result of a fraud attempt.
Anti-Money Laundering
Bangladesh Considers Introducing Market-based FX Rates
By Editors | 18/09/2022
Recent rate fixing is called “discriminatory” against exporters. A new legal framework is being set out to facilitate the confiscation of unreported offshore assets.
Credit Risk
CBIRC Directed to Align With Communist Party Objectives
By Darien Choong | 17/09/2022
A CBIRC circular outlines the measures it will take to align with CCP objectives, following inspections on the regulator carried out last year.
Anti-Money Laundering
Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank
By Editors | 17/09/2022
Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.
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