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Cryptocurrency
Thai SEC Prohibits Crypto Lending, Deposit Taking Services
03/07/2023
Crypto firms will also have to disclose a warning about the risks associated with trading cryptocurrencies from 31 July 2023.

Structural Regulation
Lawrence Wong Appointed Chairman of MAS Board
03/07/2023
Lawrence Wong will replace Tharman Shanmugaratnam, who will step down to run in Singapore’s upcoming presidential election.

Market Abuse
Korea Passes Bill to Strengthen Penalties for Unfair Trading
03/07/2023
The FSC will be able to impose a penalty surcharge of up to twice the amount of illegally earned profits. The enhanced penalties will take effect in January 2024.

Credit Risk
PBOC Expands Lending Support Facilities to Boost SME, Agri Sectors
03/07/2023
The PBOC is expanding its relending and rediscounting facilities to incentivise commercial banks to issue loans to small businesses and the agricultural sector.

Structural Regulation
SGX RegCo Issues New Guidance on Use of IFAs
03/07/2023
The guidance sets out expectations on the advice IFAs provide on proposed transactions such as exit offers and interested person transactions.

Supervision & Enforcement
China: NFRA Issues Regulatory Ratings Framework for Finance Companies
03/07/2023
Finance companies with poor regulatory ratings will be subjected to “continuous regulatory attention” and listed as key targets for on-site inspections.

Cybersecurity
CFTC Establishes Task Forces to Target Cyber Threats, Environmental Fraud
02/07/2023
The task forces will help the CFTC address cybersecurity issues, emerging technologies like AI, and fraud in carbon markets.

Payments & Settlements
EU Proposes Measures to Enable ‘Open Finance’ and Tackle Payments Fraud
02/07/2023
Payment service providers will gain a legal basis to voluntarily share payment fraud related information via dedicated IT platforms.

Structural Regulation
HKEX Confirms Plans to Expand Paperless Listing Regime
02/07/2023
HKEX will reduce the number of submission documents required from issuers and mandate electronic means as the only mode of submission.

Cryptocurrency
South Korea Passes Virtual Asset User Protection Bill
02/07/2023
The bill focuses on protecting virtual asset users and preventing unfair trading practices. The new framework will be implemented within one year.
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