UK Regulators Publish Draft Guidance on Digital Securities Sandbox Open to DLT
The DSS will last five years and could lead to a new regulatory regime for securities settlement.
Financial
Central Bank Group Starts Tokenization Project to Enhance Monetary System
The project seeks to build a “usable” solution to integrate tokenized commercial bank deposits with central bank money using smart contracts and programmability, officials at the Bank for International Settlements said.
Indonesia Will Require Crypto Products to Pass Through Regulatory Sandbox or Be Deemed Illegal
The initiative is aimed at combating fraud and will kick in at the start of next year.
UK Ad Rules Apply to Influencers, Crypto Memes, Regulator Confirms in New Guidance
“The use of memes in promotions is particularly prevalent in the crypto-asset sector,” the FCA’s guidance said.
U.S. SEC Asking for More Millions, Dozens of Lawyers to Beef Up Crypto Oversight
The securities regulator, Treasury Department and U.S. derivatives watchdog are all hoping to get more funding to deal with new duties policing the digital assets sector.
The Institutional Era of Crypto Brings Fresh Innovation
After the scandals and regulatory headaches of the last market cycle, crypto is growing and embracing the needs of institutions entering the digital assets space.
Crypto Compliance Platform Keyring Raises $6M to Unlock DeFi for Institutions
The company allows institutional investors to comply with regulations when interacting with DeFi, and recently facilitated a proof of concept trial with Nomura’s crypto arm Laser Digital by building a compliance wrapper on top of USDC stablecoin.
Indonesia’s Finance Regulator Issues New Crypto Regulation to Strengthen Industry
This is part of the preparations for the transition of crypto supervision to OJK by January 2025.
NFT Providers May Need Registration to Comply With UK Money Laundering Rules
The U.K. started a consultation on its money laundering rules on Monday.
Goldman Sachs, BNY Mellon and Others Test Enterprise Blockchain for Tokenized Assets
The Canton pilot allowed 15 asset managers, 13 banks, four custodians and three exchanges to seamlessly transact and settle tokenized assets.