Politics
Australia to Completed CBDC Pilot in Q1 2023
- The Reserve Bank of Australia is looking for industry participants to make submissions of CBDC use cases it can test during its eAUD pilot.
- Selected use cases will be announced in December, while the actual CBDC pilot will start in January and end in April, with its results being published in the “middle of 2023”.
September 26, 2022, 5:38 PM
The famous Sydney Opera House at sunset, Sydney, Australia, 15 November 2016. Taras Vyshnya/Shutterstock
FTX Listed as Unauthorized Firm in U.K.
- The Financial Conduct Authority has warned investors that crypto exchange FTX “may be providing financial services without authorization” in the U.K..
- A spokesperson for FTX said the exchange believed it was impersonated by a scammer, as the phone numbers provided by the FCA were not connected to it.
September 19, 2022, 4:43 PM
Sam Bankman-Fried, CEO of FTX, speaking at the Binance Blockchain Week, Singapore, 19 January, 2019. Binance
White House Publishes Framework for Digital Assets Development
- The White House published a fact sheet which summarized the reports from 9 federal agencies used to develop its framework and policies for digital assets.
- The reports not only called for more regulatory guidance for crypto companies, but also emphasized the importance of a potential U.S. Central Bank Digital Currency.
September 16, 2022, 5:38 PM
President-elect Joe Biden discusses the Affordable Care Act and his health care plans in Wilmington, 16 November 2020. Shutterstock
SBI’s Digital Asset Arm Receives License in Singapore
- The Monetary Authority of Singapore has granted a Capital Markets Service license to SBI Digital Markets, the crypto subsidiary of financial giant SBI Holdings.
- SBI DM now plans to launch a digital asset securities platform, as well as provide custody, capital markets products, and corporate finance advisory services in Singapore.
September 16, 2022, 1:02 PM
Landscape of Singapore’s business buildings around Marina bay.
MOLPIX / Shutterstock
Sep 15, 2022
Thailand to Ban Crypto Lending and Staking
- Once implemented, the new rules will prohibit crypto companies from taking a deposit of digital assets with a promise to pay returns to depositors.
- The Thai SEC has now opened a public hearing regarding the planned ban on crypto lending and staking, and will be collecting opinions until 17 October.
Sep 5, 2022
Russia Considers Legalization of Crypto for Cross-Border Payments
- Both Russia’s Ministry of Finance and central bank have agreed that cross-border crypto payments will soon be legalized in the country.
- Deputy Finance Minister Alexei Moiseev noted that the current geopolitical conditions have made it “impossible to do without cross-border settlements in cryptocurrency”.
Aug 29, 2022
Singapore Considers Further Retail Crypto Market Regulations
- The managing director of MAS said the regulator wanted to promote digital asset innovation in the region, while at the same time restrict crypto speculation.
- The MAS is now considering new crypto regulations to address the ongoing liquidity crisis, and some measures may include customer suitability tests, leverage restrictions, and more.
Aug 26, 2022
Binance to Help Busan Develop Its Blockchain Industry
- The exchange has signed a memorandum of understanding with the South Korean city to help it develop its blockchain ecosystem, and promote crypto adoption in the area.
- Binance has agreed to provide Busan with technological and infrastructure support, as well promote its Busan Digital Asset Exchange.
Aug 26, 2022
CoinSwitch Kuber Raided by India’s AML Agency
- CoinSwitch Kuber, one of India’s largest crypto exchanges, had five of its premises searched by Indian authorities, who alleged the company had violated forex laws.
- India’s Enforcement Directorate believed the exchange had acquired shares worth more than $250 million in contravention of forex laws, in addition to being non-compliant with KYC requirements.
Aug 24, 2022
Malaysian Bank Working on Crypto-Friendly SuperApp
- Malaysia’s Kenanga Investment Bank Berhad has partnered with Ant Group to use its mPaaS mobile development platform in the creation of its “SuperApp”.
- The app is expected to launch in early 2023, and will feature services such as crypto trading, digital wallet, digital investment management, FX, stock trading, and more.