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Crypto / Digital Assets
FCA Finalises Advertising Rules for High-risk Financial Products
By Manesh Samtani | 04/08/2022
Rules for cryptoasset promotions will be published after new legislation confirms how crypto will be brought into the FCA’s remit.
AML / KYC
ECB Analyses Options for Enhancing Cross-Border Payments
By Manesh Samtani | 04/08/2022
Bitcoin and stablecoins are “unlikely” to be the “holy grail” of cross-border payments. Interlinked domestic payment systems and interoperable CBDCs show the most promise.
AML / KYC
UK Launches UBO Register for Foreign-owned Property
By Manesh Samtani | 03/08/2022
The register requires foreign buyers of UK property to disclose their true beneficial ownership and verify their identities with Companies House.
Crypto / Digital Assets
UK Law Commission Proposes Reforms to Accommodate Crypto
By Editors | 01/08/2022
New consultation paper proposes explicit recognition of digital assets under law as a distinct category of personal property, provisionally called ‘data objects’.
Securities / Derivatives
SIX Swiss Exchange Lists First Chinese A-Shares as GDRs
By Editors | 28/07/2022
The listings mark the official launch of the China-Switzerland Stock Connect programme. More than ten other companies have disclosed plans to issue GDRs in Switzerland.
AML / KYC
UK, EU Introduce Additional Sanctions Against Russia
By Manesh Samtani | 28/07/2022
The UK announced 42 new designations. The EU extended its sanctions and added 54 more individual and 10 more entity designations.
Fintech / Regtech
UK Regulators Progress Work to Transform Data Collection
By Editors | 28/07/2022
The BOE and FCA will delivering a more “intuitive” form design across regulatory returns that will make data submission “simpler, faster, and more valuable”.
AML / KYC
UK: Most Crypto Firms Simply Withdrew Their FCA Applications
By Mark Johnston | 26/07/2022
The FCA approved 35 crypto firms out of 273 that applied for registration with the FCA under AML regulations.
AML / KYC
UK Requires Crypto Firms to Report Sanctions Breaches
By Editors | 26/07/2022
New regulations will require crypto exchanges and wallet providers to comply with OFSI’s reporting obligations from 30 August 2022.
Big Picture
ECB Calls Out Crypto Assets for ‘Outsized Carbon Footprint’
By Editors | 24/07/2022
The ECB calls on investors and financial institutions to evaluate whether crypto undermines their ESG objectives and climate strategy.
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