International

Big Picture

BIS Chief Calls for Regulatory Framework for Big Techs in Finance

By Manesh Samtani | 11/02/2023

Agustín Carstens says big techs involved in financial services are gaining systemic importance and may quickly become “too big to fail”.

Crypto / Digital Assets

Visa Reveals Plans to Allow Direct Settlement Using USDC

By Sam Chen | 10/02/2023

Visa has tested the feasibility of accepting large value settlement payments in USDC, using the same process as for foreign currency transactions.

Crypto / Digital Assets

Dubai’s VARA Releases Comprehensive Virtual Asset Framework

By Mark Johnston | 10/02/2023

The regulations aim to provide clarity and certainty and reduce market risks. VASPs must now register to offer virtual asset services in Dubai.

Fintech / Regtech

As Regulation Evolves, Regtech Will Continue to Boom  

By Leo Labeis | 09/02/2023

The success of the Digital Regulatory Reporting (DRR) programme highlights the opportunity that regtech presents and the increasingly important role technology will play in compliance, says Leo Labeis.

ESG / Sustainability

Carbonplace Gets Further Backing from Nine Banks

By Editors | 09/02/2023

The investment will go towards the development of a global carbon credit transaction network that will launch later this year.

Securities / Derivatives

Asset Managers Launch Global Trade Finance Working Group

By Editors | 08/02/2023

New working group will work to boost the role of alternative lenders in providing trade finance, at a time when traditional lenders are retrenching.

Crypto / Digital Assets

BIS Innovation Hub to Develop Stablecoin Monitoring Tools

By Editors | 08/02/2023

Project Pyxtrial will investigate technological tools that can enable systemic monitoring of stablecoins and their balance sheets.

AML / KYC

FATF Publishes Annual Report for 2021-2022

By Editors | 07/02/2023

The report sets out the achievements of the FATF under the second year of Marcus Pleyer’s Presidency.

Sanctions

OFAC Sanctions Eight Executives of Iranian Drone Maker

By Editors | 06/02/2023

The US has issued five rounds of designations of individuals and entities involved in transferring drones to Russia for use in Ukraine.