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John Salmon

Global rules could significantly alter crypto’s development

The Financial Action Task Force (FATF), which focuses on fighting financial crime, is the most advanced of the international standard setters (ISS) for creating rules governing crypto assets. Its actions so far suggest that once the other ISSs catch up, more constraints could be placed on crypto. 

YVES_LONGCHAMP

Crypto emerges from the shadows

The promise of profits and efficiency gains is seeing cryptocurrencies and their supporting blockchains being steadily drawn out from the shadows and into as yet largely unfinished regulatory parameters. 

AFME counters ‘inaccurate’ claims that OTC and SI are muddying equity market transparency

EU policy-makers are potentially being misled with “incorrect data” to favour entrenching the dominance of exchanges, the Association for Financial Markets in Europe (AFME) said in a report released on June 1.

European swaps trading accelerating use of e-trading says survey

Buy-side firms involved in European swaps trading accelerated their use of e-trading in 2020 thanks to a desire to improve efficiency and homeworking measures imposed by governments to stem the spread of the Covid-19 pandemic, Coalition Greenwich said in a report.

FASB proposes broadening hedge accounting rules

Proposals to better align hedge accounting standards with risk management strategies were put forward by the Financial Accounting Standards Board (FASB) on May 5 and stakeholders have until July 5 to respond with comments. 

Liew Chin-Chong

Futures law reform to bolster China’s capital markets

Recently announced changes to China’s futures laws will have a profound impact on the country’s financial sector and are another step towards the internationalisation of the renminbi.

Jessica Camus

EU’s green taxonomy struggles on the details

The sprawling EU sustainability taxonomy is fiendishly complex, politically contentious and monumental in its practical scope. It suffers from yawning data gaps, and some feel its credibility is being sabotaged by the very states that backed it at the outset. 

Cloud computing

Banks look beyond digitisation post-pandemic

For banks, the Covid-19 pandemic compressed years-worth of digitisation into mere months, raising the possibility of introducing new technologies such as artificial intelligence through to real-time regulatory reporting. 

Contagion risks growing in US Treasuries market due to fragmentation of clearing

There is a growing contagion risk due to the fragmentation of the US Treasuries market, argues the the Depository Trust & Clearing Corporation (DTCC), a market infrastructure firm, in a white paper published on May 25 called ‘More Clearing, Less Risk: Increasing Centrally Cleared Activity in the US Treasury Cash Market’.

Fed says CBDC could complement cash and will publish discussion paper during the summer

A US central bank digital currency (CBDC) could complement rather than replace cash and digital equivalents of the US dollar with its design raising important questions around monetary policy, financial stability, consumer protection, legal, and privacy considerations, said Jerome Powell, chair of the US Federal Reserve Board.