Crypto / Digital Assets

Fintech / Regtech

Alibaba, Tencent Tighten Platform Rules Governing NFTs – Report

By Darien Choong | 29/03/2022

NFTs in China are sold in yuan rather than crypto, do not use public decentralised blockchains, and cannot be resold after purchase.

Capital / Liquidity

BOT to Cap Bank Investment in Digital Asset Businesses

By Editors | 27/03/2022

Thai banks will be allowed to invest up to 3 percent of capital in digital asset businesses. Such investment must also be ring-fenced from core banking operations.

Fintech / Regtech

OECD Proposes Tax Reporting Framework for Crypto-assets

By Editors | 27/03/2022

The framework would require intermediaries to identify their customers and their tax jurisdictions, and then report their aggregate transaction values annually.

Fintech / Regtech

IOSCO Forms New Task Force Targeting DeFi Regulation

By Manesh Samtani | 26/03/2022

The task force, chaired by MAS assistant managing director Tuang Lee Lim, will help coordinate policy action to address the risks in DeFi.

AML / KYC

FSC Korea Starts Enforcing Travel Rule in Crypto Industry

By Editors | 24/03/2022

Starting today, VASPs can be subject to cautions, warnings or corrective orders if violations of travel rule requirements are found.

Crypto / Digital Assets

FSB Calls for Academic Papers Covering Crypto, DeFi Risks

By Editors | 24/03/2022

The FSB is inviting authours to submit papers analysing the structures and evolving linkages between crypto-asset markets for an upcoming plenary session.

Fintech / Regtech

Malaysian Minister Rules Out Possibility of Bitcoin as Legal Tender

By Editors | 24/03/2022

Malaysia’s deputy finance minister said cryptocurrencies are not suitable for use in payments. Earlier this week another minister called for the government to adopt crypto as legal tender.

Fintech / Regtech

ANZ Launches First Bank-issued AUD Stablecoin

By Manesh Samtani | 24/03/2022

The stablecoin is expected to help investors avoid the costs and exchange rate risk associated with converting AUD into USD to trade in crypto markets.

Fintech / Regtech

FCA, BOE Offer New Guidance on Addressing Crypto Risk

By Editors | 24/03/2022

Cryptoassets should be classified as an intangible asset for accounting purposes, meaning that in most cases direct holdings should be fully deducted from CET1.