Payments & Settlements

    Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.

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    PEPs & Sanctions

    EU Considers Sanctions Package Targeting Russia Facilitators

    By Editors | 14/03/2024

    The EU sanctions could target Belarus, North Korea, Iran and other third countries where entities enable Russian access to weapons and sensitive technology.

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    Cryptocurrency

    Crypto Major OKX Wins In-principle Approval in Singapore

    By Ranamita Chakraborty | 14/03/2024

    OKX will focus on spot products first while it works to bring local banking connections to customers “as soon as possible”.

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    Anti-Money Laundering

    BRICS Establishes Council for Combating Money Laundering

    By Editors | 13/03/2024

    The BRICS nations also plan to create an organisation to fight money laundering and terrorist financing similar to the FATF.

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    Payments & Settlements

    China Makes More Improvements to Payments Services for Foreigners

    By Editors | 11/03/2024

    The State Council released new guidelines. Alipay and WeChat Pay teamed up with NetsUnion Clearing Corp to optimise the use of foreign bank cards in China.

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    Tokenisation

    CFTC Publishes First-Ever US Taxonomy for Digital Assets

    By Editors | 11/03/2024

    The digital asset taxonomy is one of three recommendations advanced by the CFTC’s Global Markets Advisory Committee.

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    Payments & Settlements

    India, Indonesia Agree to Use Local Currencies in Cross-border Transactions

    By Ajoy K Das | 08/03/2024

    The agreement will promote the use of INR and IDR in all current account and permissible capital account transactions.

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    Structural Regulation

    RBI to Require Card Issuers to Allow Customers to Choose Network

    By Ajoy K Das | 08/03/2024

    The RBI found from a review that some arrangements between card networks and card issuers are “not conducive to the availability of choice for customers”.

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    Payments & Settlements

    Non-Banks Can Apply for ESAS Access at Year-End: RBNZ

    By Editors | 07/03/2024

    The RBNZ said its final ESAS access policy will balance its initial risk-based approach against the innovation and competition benefits the access will bring.

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    Payments & Settlements

    BNM to Upgrade RENTAS, Including to Facilitate CBDC

    By Sanday Chongo Kabange | 07/03/2024

    BNM’s modernisation plan for RENTAS includes future-proofing the system and enhancing its risk management functionalities.

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    Payments & Settlements

    BRICS Nations to Create Blockchain-based Payment System

    By Editors | 05/03/2024

    The move aimed at increasing the role of the BRICS in the international monetary system and reducing reliance on US dollars.

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