Regulatory Developments

Capital cut for synthetic securitisations splits regulators


Regulators Say Crypto Asset Holders Subject To Securities Laws

U.S. financial regulators have warned firms with registered digital assets that they must follow securities laws to prevent money laundering, as well as report any suspicious activity. The U.S. Securities and Exchange Commission, Commodity Futures Trading Commission and the Financial Crimes Enforcement Network issued the notice in order to clarify firms’ obligations under anti-money laundering, … Read more


Fed tailors rules to bank risk profiles

The Federal Reserve recently finalized rules establishing a tailored framework for regulations applying to domestic and foreign banks. The rules are designed to more closely match institutions’ risk profiles, reducing compliance requirements for firms with less risk while maintaining the most stringent requirements for the largest and most complex institutions. Get more details about the … Read more


Pushing for Crypto Self-Regulation Amid Tightening Government Scrutiny

Self-regulation is once again a trending topic in the cryptocurrency landscape as major exchange platforms have announced the creation of self-regulated organizations (SROs) to achieve some standardization in digital currency governance. Government regulators across various jurisdictions continue to exert greater regulatory pressure on their local cryptocurrency industries. Even inter-governmental agencies like the Financial Action Task Force … Read more


SEC, CFTC & FinCEN Join in Public Statement on Digital Assets

The leaders of the US Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), and the Securities and Exchange Commission (SEC) have issued the following joint statement pertaining to anti-money laundering (AML) and countering the financing of terrorism (CFT) regarding digital assets, such as cryptocurrencies, regarding requirements under the Bank Secrecy Act. AML/CFT … Read more


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Cybersecurity, Data and AML/Sanctions

RBC Analysts: Squashing Libra Could Boost China’s Digital Currency

RBC analysts believe that China’s digital currency might become the dominant digital currency if U.S. regulators dismiss Facebook’s Libra coin. Analysts at RBC Capital Markets have suggested that stifling Facebook’s Libra may leave the field open to China’s central bank digital currency (CBDC) to dominate in emerging economies. China shifts development of digital currency in … Read more


Regtech: ClauseMatch is Now Live in Italy in New Partnership with Banca Intesa Sanpaolo

ClauseMatch has announced that it now operational at Intesa Sanpaolo. The partnership is said to be the genesis of a meeting at Fintech Innovation Lab hosted by the Bank. A Proof of Concept soon followed. The ClauseMatch platform is currently being used by Barclays and… Read More The post Regtech: ClauseMatch is Now Live in … Read more


HSBC takes on digital challengers with First Direct overhaul

HSBC is aiming to embrace new technologies and relaunch First Direct as a contender in the digital arena, writes Jane Connolly. The Financial Times reports that the bank is looking at options such an in-app marketplace and artificial intelligence-driven features, such as automatic savings and personalised offers. Read more: Swift and HSBC team up for … Read more


Traditional Financial Exchanges Oppose UK Crypto Derivatives Ban for Retail Investors

The World Federation of Exchanges (WFE) has asked UK regulator Financial Conduct Authority (FCA) not to ban the sale of crypto derivatives to retail investors. A proposed ban would envelop regulated exchanges and CCPs who operate under stringent regulations to provide pre- and post-trade risk management standards that are designed tot foster safe and efficient … Read more


Sharp rise in scrutiny of UK cryptocurrency groups

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Three agencies issue direct warning: everyone must comply

The three main U.S. agencies overseeing cryptocurrencies and digital assets just issued an unusual joint warning. On October 11, the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), and the Securities and Exchange Commission (SEC) issued the blunt statement. Anyone undertaking activities involving digital assets must comply with “anti-money laundering” (AML) and … Read more


Denis Beau: The role of cryptoassets in the payment system

Ladies and gentlemen, The payment landscape is currently dominated by a bank-based ecosystem, an interchangeable use at par, of commercial bank and central bank money as settlement assets, and an anchor role for central bank money which is the sole settlement asset with legal tender status. It is certainly an understatement to say that this … Read more


XRP Price Exits Downtrend to Hit Three-Week High

XRP has been on the offensive, having ended a 3.5-month-long downtrend with a move to three-week highs. The world’s third-largest cryptocurrency by market capitalization clocked a high of $0.2993 yesterday, the highest level since Sept. 21, according to CoinDesk’s price index. As of writing, XRP has pulled back slightly and is currently changing hands at … Read more


NASDAQ Lists CIX100 an Index of the 100 Top Cryptos by

NASDAQ has listed its first crypto index – the CIX100 from The index is made up of cryptocurrencies selected from a list of over 2500 coins and rebalanced on a continuous basis. Cryptoindex is quick to point out that they exclude “coins with fake volumes and ranks,” an ongoing issue in the crypto sector. … Read more


HSBC Enacts First Letter of Credit on a Blockchain in Malaysia

Major bank HSBC has announced the successful enactment of a letter of credit (LC) on a blockchain in Malaysia. The transaction English language local fintech news outlet Fintech News Malaysia reported the development on Oct. 14, noting that the transaction involved packaging firm Simply Packaging importing resin from an unspecified Singaporean chemicals company. The issuing … Read more


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Banking, Finance and Investment

Street Artist Pascal Boyart Helps Venezuelan Creators Earn Crypto

Crypto-passionate street artist Pascal Boyart, well known in the space for being the first artist in his style to affix Bitcoin QR codes to his work, is now helping Venezuelan muralists and creators earn crypto. The Paris-based “Pboy,” also famous for hiding BTC in his graffiti-meets-classic-art murals, has teamed up with local organization Satoshienvenezuela, creating … Read more


Libra: Already a victim of fraud

“Move fast and break things” may no longer be the official motto at Facebook, but on the evidence of its proposed cryptocurrency, Libra, its appetite for controversy has hardly mellowed with age. Libra’s appetite for controversy has hardly mellowed with age. Libra is a cryptocurrency anticipated for launch in 2020. It will operate on what … Read more


Fintech Ripple’s Xpring Invests $750,000 to Integrated XRP With BRD’s Crypto Wallet

Mobile wallet developer BRD is partnering with Fintech Ripple’s Xpring to promote XRP adoption. The companies revealed on October 11 that Xpring is planning to invest approximately $750,000 into BRD in order to develop the “internet of value.” As part of the strategic partnership, BRD is preparing to integrate XRP and begin development work on … Read more


Blockchain-based Trade Finance Platform Marco Polo Is Testing Its First Trade Deal Between Russia and Germany

Marco Polo, a trade finance blockchain that has partnered over 20 banks, is testing its first trade deal between Germany and Russia. The company’s pilot was announced on October 11.  Russian’s Alfa-Bank and Novolipetsk Steel Company (NLMK) will take part in the pilot. Germany’s Commerzbank and metals engineering company Vesuvius GmbH are also participating in … Read more


Coinbase Gets E-Money License In Ireland, Expanding European Foothold

Coinbase is expanding its European foothold with an e-money license from the Central Bank of Ireland. “One of just a few companies” On Oct. 11, Zeeshan Feroz, the CEO of the United Kingdom arm of San Francisco-based cryptocurrency exchange Coinbase, announced that the exchange had become “one of just a few companies,” to have received … Read more


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