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International
Stablecoins
Ripple Announces Plans to Issue USD-backed Stablecoin
By Editors | 05/04/2024
Ripple said its reserve assets will be audited by a third-party accounting firm and that it will publish monthly attestations.
Structural Regulation
IOSCO Proposes Guidance on Supervision of Exchanges
By Editors | 05/04/2024
The consultation report provides guidance on supervising exchanges that provide multiple services or are part of a larger group.
Climate Risk
BCBS to Backtrack on Climate-related Standards – Report
By Editors | 04/04/2024
The BCBS plans to make its standards on disclosures and transition plans optional rather than universally adopted due to US pressure.
PEPs & Sanctions
Russia-China Business Facing Banking ‘Bottleneck’ – Report
By Editors | 04/04/2024
VTB, the only Russian bank with a fully-fledged branch in China, is dealing with high demand from companies seeking to open accounts to do business with Russia.
PEPs & Sanctions
OFAC Removes Former VTB Bank Subsidiary from Sanctions List
By Editors | 04/04/2024
German authorities took control of VTB’s European subsidiary in 2022. The Russian parent was unable to exercise its rights due to sanctions.
PEPs & Sanctions
More of Central Asia Stops Accepting Russian Mir Cards
By Editors | 04/04/2024
Kyrgyzstan’s national payments operator, and banks in Kazakhstan and Tajikistan, have stopped accepting Mir cards due to sanctions concerns.
Tokenisation
New BIS Project Seeks Overhaul of Global Payment System
By Manesh Samtani | 04/04/2024
Seven central banks will develop common infrastructure that can accommodate tokenised versions of wholesale central bank money and commercial bank deposits.
Capital Adequacy
Industry Bodies Push Back Against BCBS Crypto Treatment
By Manesh Samtani | 04/04/2024
ISDA, GFMA, FIA and other trade bodies say banks should not be penalised for trying to innovate with public permissionless blockchains.
PEPs & Sanctions
BVI Government to Establish Dedicated Sanctions Unit
By Editors | 03/04/2024
The new unit is being established with UK support to help ensure the effective implementation and enforcement of sanctions.
PEPs & Sanctions
US Urges Korea to Restrict Technology Exports to China
By Editors | 03/04/2024
The US has asked South Korea to restrict the flow of equipment and technologies for making high-end logic and memory chips to China.
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