Focus Insight
HM Treasury consults on UK regulatory approach to cryptoassets and stablecoins
On 7 January 2021, HM Treasury (“HMT”) published a consultation and call for evidence on the UK’s regulatory approach to cryptoassets and stablecoins…
14 January 2021
US FinCEN Intends to Require U.S. Persons to Report Interests in Non-US Crypto Accounts
The U.S. Financial Crimes Enforcement Network (“FinCEN”) released a notice on December 31, 2020 (the “December 31 Notice”) stating that it will…
12 January 2021
What next for cryptocurrencies? Current development of Virtual Asset regulations in the Republic of Korea
The government of Republic of Korea ("Korea") has been reluctant to officially regulate Virtual Assets (also known as cryptocurrencies) until…
11 January 2021
Digital "stargazing" through 2021: Bank Indonesia overhauls payment system regulations
Bank Indonesia has issued Regulation No.22/23/PBI/2020 on Payment Systems ("Payment System Regulation"), which is an "umbrella" regulation for the…
11 January 2021
LIBOR timing update: US banks welcome delay to LIBOR switch
ICE Benchmark Administration Proposes to Cease the Publication of Certain USD LIBOR Settings and US Regulators Encourage Banks to Stop Using LIBOR…
07 January 2021
Bank Negara Malaysia opens applications for up to five digital bank licences
We previously wrote on BNM’s proposed regulatory framework for digital banks in the exposure draft of the Policy Document (Exposure Draft) here. The…
07 January 2021
The FSCA’s Draft Declaration: Closing in on cryptoassets in South Africa
The Financial Sector Conduct Authority (“FSCA”) published for comment the Draft Declaration of crypto assets as a financial product in terms of the…
05 January 2021
FinCEN’s proposed regulation of virtual assets
A controversial proposed rule from the Financial Crimes Enforcement Network would bring bank-like regulation of virtual asset transactions, including…
05 January 2021
US Congress makes sweeping changes to money laundering enforcement
On New Year's Day 2021, Congress passed--over President Trump's veto--a defense appropriations law containing the Anti-Money Laundering Act of 2020…
04 January 2021
Brexit: Payment regulations on a temporary standstill
Changes are coming to the UK payment services regulatory landscape post-Brexit (from 1 January 2021). However, certain Brexit-triggered changes have…
29 December 2020
Get unlimited access to all Global Banking Regulation Review content