International

Structural Regulation

UK to Codify Tax Exemptions for Sovereign Investors into Law

By Editors | 05/07/2022

The proposals seek to ensure the tax exemptions provided to sovereign investors are more targeted towards investment rather than trading income.

Structural Regulation

UK FCA Consults on Remaining LIBOR Transition Steps

By Editors | 04/07/2022

The FCA is seeking views until 24 August on winding down synthetic sterling LIBOR and US dollar LIBOR.

Cryptocurrency

Binance to Help Cambodia Develop Crypto Regulatory Framework

By Editors | 04/07/2022

Binance signed an MoU with Cambodia’s securities regulator to support the development of a legal framework for regulating digital asset businesses.

Anti-Money Laundering

FATF Outlines Priorities, Objectives for Singapore Presidency

By Editors | 04/07/2022

The Singapore Presidency will focus on areas such as asset recovery, cybercrime, virtual assets, beneficial ownership, data analytics and corruption.

Emerging Prudential Risks

FSB Plenary Highlights Continued Financial Stability Concerns

By Editors | 03/07/2022

The FSB expressed concerns over the outlook for financial stability, volatility in commodity markets, and strains in crypto-asset markets.

Anti-Money Laundering

Limited Progress Made on Travel Rule Implementation: FATF

By Editors | 01/07/2022

Jurisdictions have made “only limited progress” over the last year to implement the travel rule in the crypto industry, the FATF says.

Structural Regulation

GFXC Launches New Tool to Drive Adoption of FX Global Code

By Editors | 01/07/2022

The new web-based prototype tool will reduce the barriers to signing the Code and encourage adoption by more buy-side firms.

Capital Adequacy

BCBS Issues New Consultation on Banks’ Cryptoasset Exposures

By Manesh Samtani | 01/07/2022

Total bank exposures to Group 2 cryptossets would be capped at 1% of Tier 1 capital. Banks would be permitted to recognise hedging for certain Group 2 cryptoassets.

Anti-Money Laundering

FATF Seeks Views on Improvements to Recommendation 25

By Editors | 30/06/2022

The review is intended to improve Recommendation 25 and its Interpretive Note to better meet its stated objective to prevent the misuse of legal arrangements.