ADGM Introduces Consultation Paper for Fiat-Referenced Stablecoin Issuers

by Theresa Joy Lacatan | Sep 3, 2024 | Blog News, Crypto News

On 20 August, 2024, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) issued Consultation Paper No. 7, proposing a regulatory framework for the issuance of Fiat-Referenced Tokens (FRTs). This paper outlines regulations for these...

Hong Kong Monetary Authority Imposes Penalty on WeChat Pay Hong Kong for Anti-Money Laundering Failures

by Theresa Joy Lacatan | Sep 3, 2024 | Blog News, Crypto News

The Hong Kong Monetary Authority (HKMA) has concluded its investigation into WeChat Pay Hong Kong Limited (WPHK), resulting in a HK$875,000 penalty for violations under the Payment Systems and Stored Value Facilities Ordinance (PSSVFO). The penalty was imposed for...

CFTC Approves Kalshi Klear LLC Refistration as DCO: New Era of Event-Based Trading in the Financial Markets

by Theresa Joy Lacatan | Sep 3, 2024 | Blog News, Crypto News

On 29 August 2024, the Commodity Futures Trading Commission (CFTC) granted Kalshi Klear LLC an Order of Registration as a derivatives clearing organisation (DCO) under the Commodity Exchange Act (CEA). Kalshi’s affiliate, KalshiEx LLC, was already registered as...

Latvijas Banka invites Pre-Licensing Consultations Ahead of New EU Regulations

by Theresa Joy Lacatan | Sep 2, 2024 | Blog News, Crypto News

On 29 August 2024, the Bank of Latvia extended an invitation to crypto-asset service providers (CASPs) and consulting service providers to engage in pre-licensing consultations as they prepare to comply with the forthcoming European Union (EU) Markets in Crypto-Assets...

HKMA Launches Project Ensemble Sandbox to Advance Tokenisation in Financial Sector

by Theresa Joy Lacatan | Aug 30, 2024 | Blog News, Crypto News

On 28 August, 2024, the Hong Kong Monetary Authority (HKMA) officially launched the Project Ensemble Sandbox today, for the practical adoption of tokenisation within the financial industry. The launch ceremony introduced four key themes for the initial round of...

US SEC Enhances Reporting Requirements for Investment Companies and Issues Guidance on Liquidity Risk Management

by Theresa Joy Lacatan | Aug 30, 2024 | Blog News, Crypto News

On 28 August, 2024, the U.S. Securities and Exchange Commission (US SEC) announced new amendments to reporting requirements for certain registered investment companies, aimed at improving transparency and regulatory oversight. These changes, which affect Form N-PORT...