From Lexology

Does China’s ban on crypto trading and mining mean the end of Bitcoin and crypto?

Almost certainly not, no. However, this move does once again highlight the volatility of cryptocurrencies with Bitcoin plunging 10% on the…

07 October 2021

Spotlight on the future of outsourcing in the UAE’s financial services sector

In our ‘Spotlight on’ series, we’ve been exploring operational resilience and third-party risk management within financial institutions (FIs)…

07 October 2021

IMF Senior Executives Warn of Financial Stability Risks Posed by "Crypto Boom"

In an International Monetary Fund ("IMF") blog post, IMF senior executives warned of the risks to financial stability from "cryptoization." The…

06 October 2021

Global trade associations caution BCBS against "overly conservative" cryptoasset regulation

The Global Financial Markets Association, the Financial Services Forum, FIA, the Institute of International Finance, ISDA and the Chamber of Digital…

21 September 2021

Ukraine to legalise virtual assets

On 8 September 2021, the Ukrainian Parliament adopted Law No. 3637 On Virtual Assets (the “Law”). The Law aims to regulate the circulation of virtual…

21 September 2021

India: proposed scale-based governance frameworks for NBFCs

The dominance of non-banking financial companies (NBFCs) in the fintech space and the reliance that retail users place on payments systems that NBFCs manage and operate has led to increasing concern about the systemic risks they pose. The ongoing liquidity crisis and the covid-19 pandemic have brought into focus the need for an updated governance framework. The Reserve Bank of India saw a need to review the regulatory framework and issued a discussion paper for feedback.

21 September 2021

Legislating for the LIBOR transition: synthetic LIBOR for tough legacy contracts

With less than four months to go before the FCA turns off the supply of daily LIBOR (in its well-used form) for most of the 35 currency-tenor…

16 September 2021

UK Financial Conduct Authority consults on powers to cancel firms’ regulatory permissions

On 9 September 2021, the UK Financial Conduct Authority (FCA) published Consultation Paper 21/28 “New Cancellation and variation power: Changes to…

15 September 2021

Regulation of the non-bank sector in Australia

Financiers which are not regulated by the Australian Prudential Regulation Authority (APRA) ADI’s or consumer credit code regulated credit providers…

13 September 2021

The UK’s LIBOR safe harbour legislation: a missed opportunity?

The Critical Benchmarks (References and Administrators’ Liability) Bill (Bill) was today introduced to the UK Parliament and the first reading took…

08 September 2021

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