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CBDCs
China: More Smaller Lenders Set to Join Digital Yuan Pilot
By Sanday Chongo Kabange | 22/08/2021
City Commercial Banks Clearing Company and the Rural Credit Bank Funds Clearing Centre have launched “one point integration” digital yuan systems.
Trading & Investment
India Pilots New Gift City Bullion Exchange
By Editors | 20/08/2021
The International Bullion Exchange will be the ‘gateway for bullion imports into India’, the finance ministry said in a statement.
Trading & Investment
HKEX Set to Launch A-share Index Futures in October
By Editors | 20/08/2021
The SFC approved HKEX’s launch of the new futures contract on Friday, calling it a major milestone for Hong Kong’s capital markets.
Payments & Settlements
FSS Korea Launches Probe into Electronic Payment Providers
By Manesh Samtani | 20/08/2021
The probe is a response to a growing scandal involving a local gift card provider, which offered users of its app large discounts and then changed its terms.
Structural Regulation
ATO Consults on Tax Implications of IBOR Reform
By Manesh Samtani | 20/08/2021
The ATO has set out in a discussion paper the most common tax consequences that may arise from the transition from LIBOR to RFRs.
Trading & Investment
Taiwan to Retain Day Trading Tax Cut After Expiry
By Editors | 20/08/2021
Three governmental agencies have agreed to extend the transaction tax cut for day trading after it expires at year-end.
Structural Regulation
BSP Grants Digital Bank Licence to Gokongwei-Tyme Joint Venture
By Editors | 20/08/2021
The application window for the submission of applications from new digital banks, including converting banks, will close on 31 August 2021.
Conduct, Culture & Accountability
AMAC Issues Conduct Guidelines for Managers of Retail Funds
By Sanday Chongo Kabange | 20/08/2021
Directors, supervisors and senior managers should “lead by example” and consciously advocate the implementation of a healthy industry culture.
Structural Regulation
HKMA Sets Conditions for Issuing New USD LIBOR Contracts
By Manesh Samtani | 20/08/2021
In the fourth quarter, the frequency at which banks have to report data to the HKMA will also increase from quarterly to monthly, with a simplified reporting template.
Structural Regulation
China Drafts Rules Banning Unfair Competition by Tech Firms
By Sanday Chongo Kabange | 20/08/2021
The proposed rules prohibit Internet platforms from facilitating unfair competition on the Internet or disrupting free market competition.
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