The rules specify capital requirements of PHP 100mn, plus 12 months of operating expenses, and allow digital asset exchanges in the Philippines to be set up by foreign-registered entities.
Digital asset exchanges will have to report all trades exceeding 5 million baht to commercial banks, which will then report the transactions to the Thailand's Anti-Money Laundering Office.
The squad comprises 16 special judicial police officers, one FSC public official and 15 FSS employees, tasked with handling unfair trading cases under the command of Seoul prosecutors.
Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai compare China and Hong Kong's regulatory frameworks in relation to culture and conduct.
Market participants appear to be relying heavily on protective measures, while underinvesting in detection measures as part of their overall cyber-resilience, the FMA said.
Indigenous virtual banks, global digital-only banks, and digitised traditional banks are all vying for market share, says a new report from S&P Global Ratings.
China currently lacks smooth market exit channels, reflected in insufficient supporting measures and high exit costs for financial institutions in distress, said an NDRC spokesperson.
The FSC has announced changes to the operational procedures of its evaluation committee for internet-only bank, amid plans to reopen applications for new licences on 10 October.
Among the review's recommendations are proposed veto powers to prevent the appointment or reappointment of "inappropriate" directors and senior executives at regulated entities.
Under the new rules, local AMCs must price bad assets fairly and are prohibited from setting buyback terms in acquisition contracts to help financial institutions cover up bad assets.