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Crypto / Digital Assets
BOK Calls for Reversal of ICO Ban in Korea
By Editors | 30/08/2022
BOK says the ban has resulted in domestic companies turning overseas to issue new crypto assets, which are then listed on Korean crypto exchanges.
Capital / Liquidity
Financial Stability Institute Publishes Paper on LEX Standard
By Editors | 30/08/2022
The large exposures standard seeks to monitor and limit the loss an internationally active bank can face from a single client or a group of connected counterparties.
Crypto / Digital Assets
MAS to Strengthen Retail Protections from Crypto Harms
By Manesh Samtani | 30/08/2022
MAS managing director Ravi Menon described an approach to digital assets that allows Singapore to be both stringent in its regulation and facilitative of innovation.
AML / KYC
Philippine Banks, Telecom Partner to Combat Cybercrime, Fraud
By Editors | 30/08/2022
BAP member banks and Globe Telecom will share data and intelligence to help counter cybercrime and fraud threats.
Enforcement
Korean Regulators Start Short-selling Inspections at Foreign Firms
By Editors | 30/08/2022
The FSS has launched an inspection of Morgan Stanley’s short-selling practices. Similar inspections at BAML and Goldman Sachs will come next.
Crypto / Digital Assets
UnionBank Becomes First Philippine Bank to Enable Crypto Trading
By Editors | 30/08/2022
UnionBank has also been exploring other uses of blockchain technology, as it seeks to future-proof its business and expand its metaverse footprint.
Fintech / Regtech
Indonesia, Singapore Commence Work on QR Payment Link
By Manesh Samtani | 29/08/2022
Bank Indonesia also launched the “international QRIS”, initially connecting to Thailand’s payment system, and have a retail CBDC in the works.
APRA Relaxes Phase 2 Timelines of Superannuation Data Project
By Editors | 29/08/2022
The overall consultation timeline for Phase 2 of the Superannuation Data Transformation project is being extended from 9 months to 14 months.
Market Infrastructure
New Zealand FMA Sets Out Priorities in New Corporate Plan
By Editors | 29/08/2022
The FMA will prioritise work on three new legislative regimes: financial advice licensing, climate-related disclosures, and conduct licensing.
ESG / Sustainability
BSP Issues Sustainable Investment Guidelines for Banks
By Sanday Chongo Kabange | 29/08/2022
Banks whose investments are exposed to material environmental and social risks should adopt appropriate tools and metrics to assess, measure, and monitor these risks.
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