Events listed in Digital Finance
Consultation on the Digital Securities Sandbox
ID 25904
Following the launch of a consultation on a Digital Securities Sandbox (DSS) in July this year, the HM Treasury has now published a corresponding response paper. In this response paper, the Treasury outlines the feedback it has received to its consultation and presents its way forward in this matter. To recall, the sandbox will allow companies to provide trading and settlement infrastructures for digital ...
International Joint Statement on the Crypto-Asset Reporting Framework
ID 25903
On November 10, 2023, various nations, including – among others – Germany, Switzerland, Italy, Singapore, the U.S., and the UK, have published a joint statement in which they commit to the implementation of the „Crypto-Asset Reporting Framework“ (CARF), an international standard for the automatic exchange of information between tax authorities on financial transactions involving digital assets, including crypto-assets. The framework was developed by th ...
MAS Lays Foundation for Safe and Innovative Use of Digital Money in Singapore
ID 25839
On November 16, 2023, the Monetary Authority of Singapore (MAS) published a press statement to inform of three initiatives to advance Singapore’s objective to facilitate the development and utilization of digital currencies in Singapore, including a central bank digital currency (CBDC). These initiatives include: 1. the finalization of a comprehensive plan or framework outlining the necessary infrastructure and technological requirements to enable the implementation ...
MAS Partners Financial Industry to Expand Asset Tokenisation Initiatives
ID 25809
The Monetary Authority of Singapore (MAS) has released a press statement to announce its collaboration with the financial industry to expand asset tokenization initiatives under Project Guardian. These initiatives aim to develop foundational capabilities for scaling tokenized markets, fostering institutional adoption of digital assets to enhance liquidity, unlock investment opportunities, and improve the efficiency of financial markets. Specifically, under Project Guardian, a ...
MAS Partners Industry to Develop Generative AI Risk Framework for the Financial ...
ID 25808
On November 15, 2023, the Monetary Authority of Singapore (MAS) published a press release to inform that it has concluded the first phase of Project MindForge which centers around the use of Generative Artifical Intelligence (GenAI) in the financial services sector. A corresponding whitepaper is expected for January 2024. While GenAI offers many benefits to market players and customers alike, such as increased efficiency ...
Registration Open for OCC Symposium on the Tokenization of Real-World Assets and ...
ID 25766
The Office of the Comptroller of the Currency (OCC) has published a press release to inform that the upcoming „Symposium on the Tokenization of Real-World Assets and Liabilities“ at the OCC’s headquarter in Washington, DC on February 8, 2024 is now open for public registration via this link. In this context, the OCC notes that registration for in-person attendance will only be open up ...
ESMA to put cyber risk as a new Union Strategic Supervisory Priority
ID 25741
ESMA is updating its USSPs to include a focus on cyber risk and digital resilience, in addition to ESG disclosures. This shift reflects the growing importance of addressing cybersecurity challenges in the financial sector. The new priority involves reinforcing firms‘ ICT risk management through monitoring, supervisory actions, and building new capacity. The goal is to adapt to market and technological developments while monitoring potential ...
Deepening Fintech Innovation Supervisory Cooperation in the Guangdong-Hong ...
ID 25728
The Hong Kong Monetary Authority (HKMA), the People’s Bank of China (PBoC), and the Monetary Authority of Macao (AMCM) have jointly announced the signing of a „Memorandum of Understanding on Deepening Fintech Innovation Supervisory Cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)“. This agreement aims to establish a network between the PBoC’s Fintech Innovation Regulatory Facility, the HKMA’s Fintech Supervisory Sandbox, and the ...
Regulatory regime for systemic payment systems using stablecoins and related ...
ID 25675
As previously announced in EventID 23724, the Prudential Regulation Authority (PRA) has now published its own discussion paper on a „proposed new regulatory regime for systemic payment systems using stablecoins and related service providers“. The discussion paper comes in response to the increased use of stablecoins particularly by cryptoasset exchanges as a means of payments for cryptoassets. Generally speaking, so the PRA, are stablecoins ...
DP23/4: Regulating cryptoassets Phase 1: Stablecoins
ID 25672
In view of the increased use of stablecoins – whose values are pegged to another currency, asset, or cryptoasset – particularly by cryptoasset exchanges as a means of payments for cryptoassets, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have issued various discussion papers, a roadmap, and a „Dear CEO Letter“ relating to stablecoins. **In this particular discussion paper (DP23/4), the ...