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Crypto / Digital Assets
Australia: Senate Committee to Probe ‘Debanking’ of Fintechs
By Ranamita Chakraborty | 25/05/2021
The government needs to better understand the policy issues which may be leading to debanking so that they can be addressed, said Senator Andrew Bragg.
AML / KYC
HKMA Urges Banks to Use iAM Smart in Remote Onboarding
By Manesh Samtani | 25/05/2021
The HKMA clarifies that when iAM Smart is used for identity verification, record keeping requirements may be met by retaining data obtained via API.
AML / KYC
Hong Kong to Bar Retail Investors from Crypto Trading
By Manesh Samtani | 24/05/2021
Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.
Big Picture
Infrastructure Critical for Successful CBDC Development – Report
By Sanday Chongo Kabange | 22/05/2021
A new report analyses the four axes of consideration for the design features of all CBDCs, as proposed by the IMF, and the implications each choice has on infrastructure.
Big Picture
CBDCs Present Central Banks with Risk-Benefit Trade-off: Fitch
By Sanday Chongo Kabange | 20/05/2021
The potential for funds to move quickly into CBDC accounts could cause credit strains in some banks and push up interest rates.
Crypto / Digital Assets
China Renews Crackdown on Cryptocurrencies
By Manesh Samtani | 19/05/2021
Three state-backed associations representing internet firms, banks, and payments companies have barred their members from providing crypto-related services to customers.
Big Picture
Conduct Risk Management Shifts to ‘Predict and Prevent’ Approach
By Manesh Samtani | 18/05/2021
In its annual Compendium on culture and conduct risk supervision, Starling highlights a shift from ‘detect and correct’ to ‘predict and prevent’.
Crypto / Digital Assets
RBI Asks Banks to Cut Ties With Cryptocurrency Exchanges
By Sanday Chongo Kabange | 17/05/2021
The unofficial guidance comes as Indian lawmakers look to introduce a ban on cryptocurrencies and penalise anyone dealing in them.
Fintech / Regtech
BOK Seeks Authority to Monitor Crypto Transactions – Report
By Sanday Chongo Kabange | 15/05/2021
The BOK plans to use existing authorities to monitor crypto transactions, amid fears that risks in the sector could flow to the broader financial system.
Fintech / Regtech
HKMA, PBOC In Talks on Next Phase of Digital Yuan Tests
By Sanday Chongo Kabange | 15/05/2021
The next phase of technical testing will explore the feasibility of using the digital yuan in cross-border payments.
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