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Crypto / Digital Assets
US Senators Propose Regulatory Framework for Crypto Assets
By Manesh Samtani | 08/06/2022
The CFTC would be granted authority over crypto spot markets, based on the understanding that “most digital assets are more similar to commodities than securities”.
Crypto / Digital Assets
BIS Paper Explains Why Crypto Cannot Function as Money
By Editors | 08/06/2022
Fragmentation without interoperability implies that cryptocurrencies cannot fulfil the role of money as a coordination device, the paper says.
Crypto / Digital Assets
Hong Kong SFC Issues Warning on NFT-related Risks
By Editors | 06/06/2022
Some NFTs have ‘crossed the boundary’ between a collectible and a financial asset, which would bring them under the SFC’s remit and require licensing.
AML / KYC
EU Proposes to Make AML Compliance a Licence Condition
By Editors | 05/06/2022
EBA, EIOPA and ESMA propose that AML/CTF compliance be a specific requirement for firms, including crypto firms, to obtain and maintain their licences.
Crypto / Digital Assets
Japan Approves Law Clarifying Legal Status of Stablecoins
By Manesh Samtani | 05/06/2022
Under the revision bill, only licensed banks, trust companies, and registered money transfer agents will be able to issue stablecoins.
Crypto / Digital Assets
Korea FSS Probes Use of Crypto by Payment Firms
By Manesh Samtani | 04/06/2022
Regulators also plan to launch a ‘Digital Assets Committee’ this month to bring additional safeguards and regulatory structure to Korea’s crypto industry.
Crypto / Digital Assets
CFTC Files Suit Against Winklevoss-founded Crypto Exchange
By Editors | 03/06/2022
The CFTC says Gemini misled the regulator about whether it could prevent manipulation in the prices used as a benchmark for a bitcoin futures contract.
Crypto / Digital Assets
Fed Explores CBDC Impacts on Monetary Policy Implementation
By Manesh Samtani | 02/06/2022
CBDC withdrawals could reduce bank reserves, which would result in competition for funding, higher interest rates, and ultimately a larger Fed balance sheet.
Crypto / Digital Assets
UnionBank Issues Philippines’ First DLT-based Digital Bond
By Editors | 02/06/2022
The issuance follows a POC project to optimise bond issuance workflows between STACS and PDTC, the Philippines’ national CSD for debt and equities.
Crypto / Digital Assets
Ex-OpenSea Employee Charged for Insider Trading in NFTs
By Editors | 02/06/2022
The former product manager traded on confidential information about which NFTs were going to be featured by OpenSea’s website.
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