On July 3, 2023, the Monetary Authority of Singapore (MAS) announced new investor protection measures for Digital Payment Token (DPT) service providers. The measures intend to address two primary risks: Protection from misuse or loss of customer assets. Provisions to […]
In a circular promoting access to banking services for corporate customers, the Hong Kong Monetary Authority (HMKA) has urged banks to provide services to licensed virtual asset service providers (VASPs). Specifically, the regulator encourages authorized institutions (AIs) to adopt “a […]
On February 3, 2023, the Australian government published a consultation paper, exploring which elements of the cryptocurrency ecosystem require additional regulation. This paper follows a joint statement issued in August 2022 by Treasurer Jim Chalmers and Assistant Minister for Competition, […]
The Assistant Secretary for Terrorist Financing and Financial Crimes at the US Treasury, Elizabeth Rosenberg, has addressed the need for additional regulatory clarity and more public-private engagement between the government and the virtual assets industry. Rosenberg’s remarks follow the end […]
Backed by investors such as Y Combinator and Kaszek, DolarApp was created to help solve the problem Latin American citizens face when trying to access banking in US dollars.
On October 10, 2022, the European Parliament Committee on Economic and Monetary Affairs (ECON) endorsed the approved text for the Markets in Crypto-assets regulation (MiCA). While the bill’s main provisions were agreed upon in June, the approved text sets out […]
On September 16, 2022, the White House published a fact sheet outlining a new framework and policy recommendations for the responsible development of digital assets. Pursuant to Executive Order (EO) 14067 from March this year, the first of its kind […]
Australia’s government has announced it will prioritize “token mapping” as part of its review of crypto-assets. Treasurer Jim Chalmers and Assistant Minister for Competition, Charities, and Treasury Andrew Leigh argued that “regulation is struggling to keep pace and adapt with […]
The Monetary Authority of Singapore (MAS) is currently assessing its approach to stablecoin regulation following the collapse of algorithmic stablecoin TerraUST (UST-USD) in May 2022. According to Central Bank minister Tharman Shanmugaratnam, MAS plans to consult the public in the […]
The transition to digital assets is accelerating every day. As a result, there is a growing need for more banking services, such as payment cards, checking accounts, and wire transfers that connect traditional finance with digital asset finance. Coming from […]
The non-fungible token (NFTs) sector is in a state of flux. Reuters estimates that sales of NFTs reached around $25bn in 2021, and individual items have sold for as much as $90m. But high-profile scams in 2022, such as a […]
Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA), has set out the regulator’s data-led strategy to embrace and mitigate the risks of digital platforms. In a speech delivered at the Peterson Institute of Economics, Rathi outlined the […]
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