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Digital currencies inject new possibilities into cross-border payments

There are good reasons for most countries to improve cross-border payment efficiencies, however that desire is complicated by technical and legal issues. But new forms of digital money potentially open up some interesting new channels. 

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Australia looks to shake up its digital assets framework

On August 22, the Treasury announced plans to conduct a token-mapping exercise to determine how crypto assets, and related services, should be treated from a regulatory perspective in the country. This could signal a new direction for Australia’s regulation of digital assets.

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China's near-term economic outlook is troubling

The government’s pursuit of a zero Covid policy via strict lockdowns is hitting households and businesses hard, while a slow-burn crisis in the real estate sector is threatening to upend financial system stability. All trends that have big consequences for banks.

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Mauritius aims to become a leading African financial hub

Through a unique combination of trade agreements, Mauritius is positioning itself as a conduit for international investment into Africa while pivoting its regulatory regime towards becoming more attractive to institutional funds.

Leo Labeis

Preparing for the CFTC Rewrite with Digital Regulatory Reporting

One of the challenges facing financial institutions when it comes to compliance is the lack of standardisation across regions. This has led to a duplication of processes, increasing the cost, complexity and operational risk of trade reporting and degrading the quality of the data collected by regulators globally. 

Philip Slavin

UMR phase 6: Margin mayhem begins unless dispute resolution is reformed

To quote a former Prime Minister, the final phase of the Uncleared Margin Rules (UMR) is “not the end, it is not even the beginning of the end, but it is, perhaps, the end of the beginning”. The sixth and final phase of UMR has been well telegraphed and firms falling within scope are frantically making final preparations to be compliant. 

Sam Ramirez Jr

EU shelving social taxonomy paves way for greater fragmentation

The European Commission’s decision to kick the EU social taxonomy into the long grass was greeted with disappointment by the sustainable finance community, but more importantly it might accentuate the slide towards greater fragmentation.

Carson Block

Battle of the bourses: US and China sign truce

A two-decade tussle between the US and China over company listing rules is nearing an end with a truce, but critics remain cautious about the details.

william je

Stablecoins winning regulatory acceptance – but at a price

Most jurisdictions appear increasingly inclined to accept stablecoins playing a role in the financial system. Some even see them as beneficial innovation. However, that will come at a price in terms of the rules they will have to follow.

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China banks face soaring NPLs as economic woes intensify

Concerns grow over China’s banking system as Covid lockdown-induced economic slowdowns, bursting property bubbles and fraud plague the country’s lenders.

August 30, 2022

Recently, a third UK high street bank has embarked on a journey of “KYC” refresh. It is contacting all its business account holders, requesting more data about what their company does in order to comply with Sections 27 and 28 of the Money Laundering Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.  By Rupert Brown at CTO Evidology Systems Ltd

Are stablecoins a threat to financial stability?