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Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.
KYC & CDD
PBOC Eases Overseas Transactions Rules for Domestic Payment Firms
By Darien Choong | 23/06/2022
Domestic payments institutions can use the cross-border CNY settlement services of banks for e-commerce and ‘new models’ of foreign trade.
CBDCs
BIS Innovation Hub Outlines Lessons from CBDC Experiments
By Manesh Samtani | 23/06/2022
The report covers four experiments, Project Inthanon-LionRock, Project Jura, Project Dunbar, and Project mBridge.
Cryptocurrency
India: Crypto Exchanges Call on NPCI to Restore UPI Services
By Mark Johnston | 22/06/2022
Since April, Indian crypto exchanges have not been able to accept deposits via the UPI. BACC members are asking for a reversal of the decision.
Structural Regulation
Korea Post Offices to Start Offering Simple Banking Services
By Sanday Chongo Kabange | 22/06/2022
Korea’s post offices will start offering deposit, withdrawal, balance inquiry and ATM services of four banks – Kookmin, Shinhan, Woori and KEB Hana.
Payments & Settlements
NPCI, Lyra Network Sign MOU to Allow UPI Payments in France
By Editors | 22/06/2022
The MOU will allow Indians to make payments in France using UPI and Rupay cards at terminals and ATMs provided by Lyra Networks.
Payments & Settlements
Myanmar Considers Joining SPFS, Russia’s SWIFT Alternative
By Editors | 21/06/2022
Myanmar is negotiating the possibility of joining SPFS, an alternative to SWIFT, as well as the use of Russian Mir cards in Asia.
Cryptocurrency
BIS Vision for Monetary System Doesn’t Include Crypto
By Manesh Samtani | 21/06/2022
BIS says crypto and DeFi have structural limitations and inherent risks that make them unsuitable for the future digital monetary system.
Clearing & Post-Trade
HKEX to Enhance Clearing Flexibility for Stock Trades – Report
By Editors | 21/06/2022
HKEX plans to allow market participants to appoint multiple clearing banks for stock trades, a move already made for futures traders.
Cybersecurity
India Designates IT Resources of ICICI, HDFC, NPCI “Protected Systems”
By Editors | 21/06/2022
Unauthorised persons securing or attempting to secure access to protected systems can be jailed for up to ten years and liable for a fine.
Trading & Investment
Russian Exchange Starts Offering Trading in 12 Hong Kong Stocks
By Editors | 21/06/2022
HKEX is not involved in the initiative. The move is part of the Saint Petersburg Stock Exchange’s global issuer programme.
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