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Europe
Crypto / Digital Assets
Korea & Italy to Cooperate on RTGS Systems & CBDC
By Editors | 07/12/2023
Bank of Korea and Bank of Italy will share skills and knowledge and cooperate on technologies that support RTGS systems and CBDC.
Crypto / Digital Assets
SocGen Becomes First Major Bank to List Stablecoin
By Editors | 07/12/2023
The euro-pegged stablecoin was listed on crypto exchange Bitstamp, which has licences in Luxembourg and France.
Sanctions
Chinese Firms Targeted in Latest Round of UK Russia Sanctions
By Editors | 07/12/2023
UK sanctions 46 individuals and entities, including companies in Belarus, China, Serbia, Turkey the UAE, and Uzbekistan, with links to Russian military sales.
AML / KYC
Banque Pictet to Pay $123m to Settle US Tax Evasion Case
By Editors | 06/12/2023
Banque Pictet helped US taxpayers to use coded accounts, foreign trusts and entities, nominee beneficiaries and other “deceits” to conceal their income and assets abroad.
Sanctions
US Government Offers Bounty for Russian National Accused of Sanctions Busting
By Editors | 06/12/2023
US government offers USD 7 million reward for individual accused of smuggling sensitive technology to Russia and money laundering via a German trading company.
Sanctions
US Sanctions Belgium-based Network for Russian Military Procurement
By Editors | 06/12/2023
US sanctions five individuals and nine entities as DOJ unseals indictments targeting illicit Russian military procurement.
Securities / Derivatives
UK FCA Consults on Regulatory Approach for Overseas Funds
By Editors | 05/12/2023
The new regime will provide a “streamlined process” for overseas funds to market to UK retail customers if the government finds a jurisdiction equivalent.
Fintech / Regtech
Payments Into Europe Can Now Reach Beneficiaries “in Seconds”: Swift
By Editors | 03/12/2023
The EPC’s One-Leg-Out Instant Credit Transfer scheme enables payments to and from Europe to be processed 24 hours a day, seven days a week.
Market Infrastructure
RBI, BOE Agree to Cooperate on CCIL Information Exchange
By Manesh Samtani | 03/12/2023
The BOE recognises the “primacy” of the RBI in supervising India-based CCPs and agrees to rely on home country regulation and supervision.
Crypto / Digital Assets
Third Phase of CBDC Project “Helvetia” Gets Underway
By Manesh Samtani | 01/12/2023
The pilot programme allows participating banks to settle digital bonds and repo transactions against wholesale CBDC on a DvP basis.
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