Singapore’s financial regulator is experimenting with a range of CBDC development projects alongside creating a regulatory approach to stablecoins, but the final role of both CBDCs and stablecoins within the Singaporean economy remains to be confirmed.
Financial Markets
Looming US dollar Libor deadline: late nights ahead for bankers and clients?
Significant progress so far suggests major mishaps unlikely, but term SOFR concerns linger.
European Parliament greenlights EU crypto assets rules
EU’s MiCA regulation has received final parliamentary approval, with the majority of the rules expected to apply from late 2024
FCA proposes major listings rules changes
The regulator is pitching a series of reforms to streamline the listings process, following criticism that the UK market is not attractive enough relative to international competitors
US crypto crackdown leaves many unanswered questions
US regulators, particularly the SEC, are ramping up enforcement actions against cryptocurrency firms since the demise of FTX. From industry heavyweight Coinbase to former Disney star Lindsay Lohan, it seems no one is too big or small to escape their attention. But is the crackdown going too far?
Industry taskforce to examine European shift to T+1 settlement
The US’s decision to proceed with T+1 settlement by May 2024 has increased the incentive to examine the practicalities of introducing a matching settlement cycle for European securities.
Singapore completes third consultation on its green and transition taxonomy
The proposed framework is notable for its “measures-based approach” for industrial activities and its traffic light ratings system.
US Treasury talks up CBDC prospects, but still a “long way to go”
A recent speech from a senior Treasury official talked extensively about the potential development of a US central bank digital currency, but industry experts suggest there is more to this apparent CBDC enthusiasm than meets the eye.
CDS markets come under scrutiny
The European Securities and Markets Authority (Esma) has confirmed it is examining recent activity in the credit default swap markets following volatility.
UK reveals ambition to be global crypto hub
Rather than plotting a totally new regulatory course, the UK plans to place crypto within its existing mainstream financial services framework.
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