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Stablecoins
Parallel Myanmar Government Recognises Tether as Official Currency
By Editors | 14/12/2021
The pro-democracy National Unity Government has reportedly begun using Tether as a proxy for the US dollar to raise funds for a campaign to topple the military regime.
PEPs & Sanctions
US Sanctions Force Chinese AI Firm to Postpone HK IPO
By Manesh Samtani | 13/12/2021
The US Treasury placed Chinese AI firm SenseTime on an investment blacklist just as the company was preparing to list in Hong Kong.
Structural Regulation
China to Enhance Asset Sale Transparency at State-owned FIs
By Editors | 13/12/2021
Assets transfers by state-owned financial institutions must be through open transactions, such as on trading venues, auctions, and competitive negotiations.
Fraud, Scams & Cybercrime
AUSTRAC Issues Financial Crime Guide on Disaster Payments Fraud
By Editors | 13/12/2021
The financial crime guide helps financial firms identify the misuse of emergency and disaster payments administered through Services Australia.
Anti-Money Laundering
FATF Calls for Global Action on Environmental Crime
By Editors | 13/12/2021
For the first time, the UNODC, UNEP and CITES met with the FATF to discuss partnerships to fight money laundering from environmental crimes.
Credit Risk
Taiwan FSC Directs Banks to Rein in Real Estate Credit Risk
By Darien Choong | 12/12/2021
Banks are instructed to review their concentration of real estate lending business and strengthen risk controls and post-loan management.
DeFi & Web3
Thai SEC Consults on Rules Restricting Use of DeFi Platforms
By Mark Johnston | 12/12/2021
The proposed rules would bar digital asset fund managers from investing customer assets on DeFi platforms and digital asset advisers from recommending them to investors.
Anti-Money Laundering
US Treasury Targets Human Trafficking in Updated Action Plan
By Mark Johnston | 12/12/2021
Treasury will leverage its AML expertise to augment human trafficking investigations, and develop advisories to alert FIs to potential red flags.
AI Risk & Governance
Regulation Asia Awards for Excellence 2021 – Results Announcement
By Editors | 10/12/2021
Regulation Asia held its fourth annual Awards ceremony on 9 December 2021. Here we explain our methodology and announce the winners for the year.
Reporting & Disclosures
Synpulse Recognised for Work to Address Regulatory Challenges
By Editors | 10/12/2021
Synpulse helped clients with ESG gap assessments, periodic KYC review enhancements, and a data management framework uplift project, among others.
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