Topic: Cross-border transactions

BIS Innovation Summit: Recent turmoil doesn’t shake the path for digital assets, experts say

A senior Dutch regulator has cautioned his peers not to “get distracted” by illusions of crypto uniqueness, at a Bank for International Settlements innovation summit which also heard doubts raised about the still-yet unresolved legal categorisation of central bank digital currencies.

04 April 2023

PBOC proposes initial Swap Connect rules

China’s central bank has released the northbound section of its “eagerly awaited” draft framework for its plan to connect the Hong Kong and mainland financial derivatives markets – addressing outstanding questions about financial market infrastructures, participant qualifications, and Chinese yuan exchange.

23 February 2023

Greylisted UAE takes Wise to task for AML failures

The financial regulator of Abu Dhabi’s free zone has fined fintech Wise for a series of poor money laundering controls, months after the FATF cited the UAE’s lax enforcement against money laundering in its decision to greylist the country.

01 September 2022

Singaporean regulator admits “mixed signals” on crypto, warning it may restrict crypto access

Singapore’s financial watchdog has indicated it may make it more difficult for retail investors to access cryptocurrencies, in a shift from its previous welcoming position on digital assets.

31 August 2022

Securities industry body prepares to extend master agreement to digital assets, with Ashurst advising

The International Securities Lending Association is pushing to extend its Global Master Securities Lending Agreement to crypto assets, with a team from Ashurst advising.

10 August 2022

China offers conduit to yuan-backed swap derivatives for overseas investors

Central banks and regulators in China and Hong Kong have agreed to provide offshore access to Chinese interest rate swap derivatives, making another move to internationalise the Chinese yuan.

06 July 2022

China expands foreign access to bond market

Foreign investors in Shanghai and Shenzhen will be able to directly trade Chinese bonds from July under new reforms, as China completes the opening up of its onshore bond market.

01 June 2022

“We are at a crossroads”: what’s next for regulation in the UK?

CityWeek’s 12th annual Financial Services Forum heard keynotes from the chief executives of the Financial Conduct Authority and Prudential Regulation Authority, along with discussions of the UK’s ambitions as a crypto hub and its potential for regulatory divergence post-Brexit.

09 May 2022

Binance operations in UK concerning, says FCA

The UK’s financial watchdog has said it has “limited powers” to object to a partnership that will see banned crypto firm Binance able to operate in the UK again.

23 February 2022

Crypto assets a threat to global stability, FSB says

Crypto-assets’ too-rapid evolution may threaten global financial stability, according to a new warning issued by the Financial Stability Board (FSB), the same day as 18 crypto companies join together to propose an “industry-driven solution” for crypto to comply with FATF standards.

17 February 2022

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