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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.
Cryptocurrency
Indonesia to Start Taxing Crypto Investments, Fintech Services in May
By Editors | 10/04/2022
Indonesia will charge a capital gains tax and VAT on crypto transactions, as well as interest and fees generated from fintech services, starting on 1 May 2022.
Payments & Settlements
Central Bank Official Shot as Myanmar Imposes New FX Controls
By Editors | 10/04/2022
The shooting came days after an order requiring all foreign currency held in bank accounts to be converted to kyats. New limits are also being imposed on international cards issued by domestic banks.
Payments & Settlements
SEBI Defers Deadline on Use of Pool Accounts for Fund Transactions
By Editors | 09/04/2022
SEBI said AMFI has sought additional time for the implementation of directions that prohibit intermediaries from pooling investor money for mutual fund transactions.
Payments & Settlements
SEBI Raises Limit for Equity Investments via UPI Mechanism
By Editors | 07/04/2022
The limit for individual investors applying in public issues of equity shares and convertibles using the UPI mechanism is being increased.
Trading & Investment
IOSCO Seeks Feedback Bond Market Liquidity, ETF Guidance
By Editors | 07/04/2022
IOSCO is considering ways to improve the functioning of corporate bond markets. It is also proposing new guidance to improve ETF markets.
PEPs & Sanctions
Myanmar Orders Conversion of All Foreign Currency to Kyat
By Editors | 07/04/2022
The order suggests the military government may be struggling to repay debt and purchase key supplies. Fresh sanctions were also recently announced.
PEPs & Sanctions
US, UK Announce New Russia Sanctions, EU to Ban Coal Imports
By Manesh Samtani | 06/04/2022
New sanctions imposed against Sberbank, Alfa Bank, Credit Bank of Moscow, Putin’s adult daughters, and more Russian officials and oligarchs.
Fraud, Scams & Cybercrime
Bangladesh Proposes Law to Raise Penalties for Banking Fraud
By Editors | 03/04/2022
The bill would allow Bangladesh Bank to remove a bank’s owners, directors, executives, and other officials if they are involved in banking fraud.
Payments & Settlements
SAFE to Relax Threshold for Declaring Foreign Receipts, Payments
By Editors | 31/03/2022
SAFE proposes to increase the dollar threshold over which Chinese residents have to make declarations of their foreign receipts and payments.
Emerging Prudential Risks
FSB Publishes Work Programme for 2022
By Editors | 31/03/2022
Key focus areas include work to address Covid-19 scarring effects, enhance cross-border payments, and address financial risks from climate change.
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