Crypto / Digital Assets

Fintech / Regtech

Govt Panel Formally Recommends Complete Crypto Ban in India

By Manesh Samtani | 24/07/2019

An inter-ministerial committee has formally recommended a complete ban on cryptocurrencies in India and to punish any crypto-related activity with up to 10 years’ jail.

Fintech / Regtech

Philippine SEC Consults on Draft Rules for Digital Asset Exchanges

By Manesh Samtani | 19/07/2019

The rules specify capital requirements of PHP 100mn, plus 12 months of operating expenses, and allow digital asset exchanges in the Philippines to be set up by foreign-registered entities.

Crypto / Digital Assets

Thailand to Mandate Extra Reporting Rule for Digital Asset Trades

By Editors | 19/07/2019

Digital asset exchanges will have to report all trades exceeding 5 million baht to commercial banks, which will then report the transactions to the Thailand’s Anti-Money Laundering Office.

Crypto / Digital Assets

Leaked Draft Shows India’s Zero-Tolerance for Cryptocurrency

By Editors | 17/07/2019

The leaked draft bill being circulated, though unauthenticated, specifies up to 10 years’ jail for buying, selling or storing cryptocurrency in India.

Crypto / Digital Assets

UPDATED – Bitpoint Japan Loses $28m in Crypto in Hot Wallet Hack

By Editors | 15/07/2019

The majority of the stolen funds belonged to clients and were held in hot wallets. Crypto exchanges in Japan are required to hold client assets offline in segregated cold wallets.

Fintech / Regtech

China to Respond to Libra with Government Backed CBDC

By Editors | 11/07/2019

The PBOC is organising market-oriented institutions to jointly research and develop a central bank digital currency, in a programme that has already been approved by the State Council.

Crypto / Digital Assets

Singapore Proposes GST Exemption for Digital Token Payments

By Editors | 09/07/2019

Transactions involving digital tokens or cryptocurrencies that function or are intended to function as a medium of exchange will be exempt from GST.

Fintech / Regtech

Malaysia to Finalise Regulatory Framework for ICOs by Year-End

By Editors | 06/07/2019

A framework for ICOs, originally expected by the end of Q1, is now under review by relevant stakeholders, according to deputy finance minister Datuk Amiruddin Hamzah.

Fintech / Regtech

Asia Ahead of Other Regions in FinTech: IMF

By Editors | 04/07/2019

Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.