DeFi & Web3

Japan Policymaking Body Approves New Web3 White Paper

15/04/2023

The paper covers crypto taxation, a DAO law, token screening, stablecoin registration, and Web3 accounting standards.

PEPs & Sanctions

OFAC Sanctions Chinese Entities in Fentanyl Supply Chain

14/04/2023

The Chinese individuals and companies were allegedly involved in supplying drug cartels with ingredients to make opioids for sale in the US.

Fraud, Scams & Cybercrime

Taiwan Cabinet Approves Legislation to Bolster Anti-Fraud Effort

14/04/2023

The amendments to three bills include higher penalties for cases of personal data leakage where negligence is found.

Operational Risk

Former TSB Executive Fined Over 2018 IT Migration Failure

14/04/2023

TSB Bank’s chief information officer was fined for his management of a key outsourcing relationship fell below expected standards.

AI Risk & Governance

Tiger Brokers Tests ‘TigerGPT’ Chatbot as Investment Assistant

14/04/2023

The OpenAI-powered chatbot is said to be the “first deployment of an AI investment assistant in the brokerage industry”.

Liquidity Risk

MAS Maintains Monetary Policy Stance, Warns of Slow Growth

14/04/2023

MAS said its five successive monetary policy tightening moves since October 2021 have “tempered the momentum of price increases”.

Payments & Settlements

Japanese JCB Cards to be Accepted in Saudi Arabia

14/04/2023

JCB cards will be accepted at Points of Sale and ATMs across Saudi Arabia through a partnership with Saudi National Bank.

Anti-Money Laundering

UPDATED – Singapore Bankers Asked to Avoid Discussing Inflows from China

14/04/2023

Regulators asked private bankers to avoid attributing large fund inflows to Chinese wealth as this is seen as a politically sensitive issue.

Cryptocurrency

LCH to Start Clearing BTC Futures and Options in Q4

14/04/2023

LCH will clear Bitcoin index futures and options contracts traded on GFO-X, an FCA-regulated digital asset derivatives trading venue.