Asia
🎉 UAE🇦🇪: the Central Bank has approved the launch of USDU, a stablecoin by Universal Digital Paid Members Public
🎉 UAE🇦🇪: the Central Bank has approved the launch of USDU, a stablecoin by Universal Digital While pegged to the US dollar, USDU is not a conventional stablecoin. The asset has been officially registered as a cross-border payment token, positioning Dubai’s USD-based digital settlement system among the few global infrastructures
📢Thailand🇹🇭: the Central Bank plans to tighten rules governing cash withdrawals Paid Members Public
📢Thailand🇹🇭: the Central Bank plans to tighten rules governing cash withdrawals “Who needs 6 million dollars in cash?” — asked the Governor of the Bank of Thailand, when outlining the upcoming regulatory changes. ➡️ Background: a few days ahead of local elections, authorities identified two cash withdrawal transactions totaling USD 12 million.
📢Thailand🇹🇭: the Central Bank plans to tighten rules governing cash withdrawals Paid Members Public
📢Thailand🇹🇭: the Central Bank plans to tighten rules governing cash withdrawals “Who needs 6 million dollars in cash?” — asked the Governor of the Bank of Thailand, when outlining the upcoming regulatory changes. ➡️ Background: a few days ahead of local elections, authorities identified two cash withdrawal transactions totaling USD 12 million.
🎉 Thailand🇹🇭: local fintech holding SCBX develops a virtual bank with KakaoBank🇰🇷 and WeBank Technology Services🇨🇳 Paid Members Public
🎉 Thailand🇹🇭: local fintech holding SCBX develops a virtual bank with KakaoBank🇰🇷 and WeBank Technology Services🇨🇳 Who is involved in this partnership and how the project will operate❓ Detailed overview ➡️ The virtual bank model, introduced by the Bank of Thailand, allows financial institutions to operate exclusively through digital platforms without physical
☠️ In Singapore 🇸🇬, several major banks have introduced a new rule aimed at strengthening the fight against financial fraud. Paid Members Public
☠️ In Singapore 🇸🇬, several major banks have introduced a new rule aimed at strengthening the fight against financial fraud. Starting October 15, some systemically important banks will automatically block or temporarily hold any transfer that moves more than 50% of an account’s total balance within a single day. ➡️ The initiative
🤩 India🇮🇳: Regulator bans 25 crypto exchanges for AML non-compliance Paid Members Public
🤩 India🇮🇳: Regulator bans 25 crypto exchanges for AML non-compliance Anti-money laundering measures targeting offshore platforms are being enforced amid the tightening political stance of Indian authorities. ➡️ Although India still lacks a comprehensive framework for digital assets, the Ministry of Finance in March 2023extended the scope of the Prevention of Money
🏴☠️Turkey 🇹🇷: financial intelligence agency to gain authority to freeze crypto accounts Paid Members Public
🏴☠️Turkey 🇹🇷: financial intelligence agency to gain authority to freeze crypto accounts A new bill aimed at combating crypto-related fraud is currently being drafted. If approved, the Ministry of Finance and Treasury (Masak) will be empowered to freeze suspicious accounts not only in banks, payment systems, and electronic money institutions, but
💀Malaysia 🇲🇾: Communications and Multimedia Commission (MCMC) tightens measures against scams and illegal content Paid Members Public
💀Malaysia 🇲🇾: Communications and Multimedia Commission (MCMC) tightens measures against scams and illegal content The MCMC aims to more directly engage major social media companies in combating fraud and illegal content. A key measure is mandatory KYC verification on major platforms. ▶️Reason: the rapid growth of internet penetration in Malaysia has