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Europe
Fintech / Regtech
UBS, SBI, DBS Use Digital Bond in Cross-border Repo Trade
By Manesh Samtani | 15/11/2023
The transaction involved a repo to borrow tokenised JPY against a natively-issued JPY digital bond. The tokenised JPY was used to finance the repurchase of the same bond.
Capital / Liquidity
EBA Issues Third Batch of MiCA-related Consultations
By Editors | 09/11/2023
The consultations cover transaction reporting, recovery planning, own funds, stress testing, and liquidity requirements for stablecoin issuers.
Capital / Liquidity
EU Lawmakers Back Plans to Improve Bank Resolution Framework
By Editors | 09/11/2023
Jonás Fernández said the rule changes will level the playing field among different banking structures in the EU, while ensuring that banks will remain safe.
Sanctions
UK Targets Russian Gold and Oil as EU Preps New Sanctions Package
By Editors | 08/11/2023
UK government announced asset freezes on 29 individuals and entities in Russia’s gold, oil, and strategic sectors.
AML / KYC
UK FCA Urges Firms to Do More to Combat APP Fraud
By Manesh Samtani | 08/11/2023
Firms are not adequately focused on delivering good outcomes to consumers, supporting victims of fraud, and handling complaints in a timely manner.
Crypto / Digital Assets
UK Regulators Set Out Roadmap for Regulating Stablecoins
By Manesh Samtani | 07/11/2023
The FCA and BOE published discussion papers outlining the UK’s proposed regulatory approach for regulating fiat-backed stablecoins.
Crypto / Digital Assets
FCA Finalises Guidance on Cryptoasset Financial Promotions
By Editors | 05/11/2023
Crypto promotions should apply the Consumer Duty; finfluencers should disclose commercial relationships; regulated status should not be used in a promotional way.
Sanctions
US, UK, Canada Announce New Myanmar Sanctions
By Editors | 01/11/2023
OFAC restricts financing to Myanma Oil and Gas Enterprise (MOGE), as UK and Canada add new names to asset freeze lists.
Crypto / Digital Assets
UK Confirms Plans to Implement New Rules for Crypto, Stablecoin
By Editors | 31/10/2023
Treasury says the government aims to have legislation for the new regime before Parliament in 2024.
Crypto / Digital Assets
MAS Establishes Project Guardian Policymaker Group
By Editors | 30/10/2023
MAS will work with Japan’s FSA, the UK’s FCA and Switzerland’s FINMA to advance the development of tokenised digital assets.
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