Crypto Assets
MAS demands crypto exchange Binance cease operations
Move came after UK’s FCA said firm failed to provide sufficient supervisory information
MAS grants first crypto exchange licence
Central banks taking divergent approaches to scrutiny of crypto firms
Stablecoins neither stable nor coins – paper
Researchers argue stablecoins are not medium of exchange, and so are not money
South Africa’s new crypto framework: ‘neither hostile nor friendly’
Risk-based approach will bring crypto operations within South Africa’s regulatory perimeter
PBoC tightens ban on crypto transactions
PBoC warns largest banks to verify customers’ identities and stop aiding bitcoin-related transactions
China abandons cryptocurrencies under the PBoC (this time it’s for real)
New data centres set to be established to compensate provinces for lost crypto mining revenues
El Salvador’s bitcoin currency experiment
Move by first nation to approve bitcoin as legal tender raises important issues
Basel Committee proposes strict treatment of crypto asset exposures
Crypto assets such as bitcoin will face risk weight of 1,250%
El Salvador to make bitcoin legal tender
President claims the move, a first for any country, will aid remittances and financial inclusion
BoE says stablecoins must be as trustworthy as commercial bank money
Stablecoins may require tailored regulation and access to emergency liquidity facilities, paper says
Diem says it will ‘fade out’ stablecoin if Fed issues CBDC
Chief economist of Facebook-backed firm says public sector has “comparative advantage”
DNB acknowledges crypto KYC requirements were unlawful
Netherlands Bank reverses decision to mandate adherence to Sanctions Act
Bitcoin plunges as China cracks down on crypto assets
Chinese industry bodies toughen restrictions on crypto services offered by financial institutions
Diem shifts focus to US dollar stablecoins
Move away from Switzerland sees former Libra Association distance itself from original multi-currency plans
AML/CFT regulation of crypto assets needs rapid reform – BIS report
Few jurisdictions are implementing “travel rule” for crypto assets, report says
Bank of Thailand reinforces stablecoin regulation
Firms wishing to issue baht-backed stablecoins must consult with the central bank
ECB pushes for greater crypto asset powers
Central bank suggests changes to afford it greater oversight of e-money issuers
Stablecoin issuer agrees to settle lawsuit over ‘deceptive’ trading practices
New York attorney general accuses Tether of lying about the backing of its crypto asset with US dollars
Dutch crypto firm takes legal action against DNB
Bitonic says new KYC requirements are disproportionate and threaten consumer privacy
FCA fails to register crypto asset firms by cut-off
Regulator establishes temporary registration regime for firms which submitted application on time
Regulators need common crypto asset standards – policy-makers
“Too many” crypto assets created to avoid regulation, official tells Central Banking summit
Marshall Islands readies to make waves in digital currency
Island nation ready to issue blockchain-based national currency if new government gives the go-ahead
Lower financial literacy linked to crypto asset ownership – Bank of Canada
New cash survey shows financial literacy is positively associated with crypto asset awareness
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse