In this regular post, we round-up FinTech-related financial services regulatory developments for the week ending 6 October 2023.
Tag: digital infrastructure
The rise of the crypto hedge fund: opportunities and challenges
The extraordinary returns generated by cryptocurrencies have led to a frenzy of investment activity and interest from investors. Several new crypto hedge funds have emerged, and cryptocurrency is fast establishing itself as a mainstream asset class.
However, numerous operational and regulatory concerns remain. While regulators are increasing oversight, established players and startups are moving to address the current gaps in infrastructure, control and compliance.
Read our latest article for Regulation Asia to learn more about overcoming the challenges to make the most of the opportunities of this new asset class.
Key contacts
Hannah Cassidy
Partner, Hong Kong
+852 2101 4133
Grace Chong
Registered foreign lawyer (Singapore), Hong Kong
+852 2101 4138
FSB publishes report on crypto-assets
On 16 July 2018, the Financial Stability Board (FSB) published a report to the G20 on its work with the Committee on Payments and Market Infrastructures (CPMI) to develop a framework and identify metrics for the monitoring of financial stability risks posed by crypto-assets. The report also provided a helpful overview of the work being done by the other standard-setting bodies (SSBs), including the International Organisation of Securities Commissions (IOSCO) and the Basel Committee on Banking Supervision (BCBS) on crypto-assets. Continue reading
Further developments in Distributed Ledger Technology
On 15 December 2017, the Financial Conduct Authority (FCA) published the Feedback Statement (FS) to its April 2017 Discussion Paper (DP) DP17/03 on Distributed Ledger Technology (DLT). Continue reading
Fintech regulation – what is on the horizon?
With fintech becoming such a fast-moving and increasingly regulated space, we have created a timeline of key UK and EU regulatory milestones to watch out for over the coming months and years. Continue reading
Bank of England launches fintech community and FCA publishes discussion paper on distributed ledger technology
In March 2017, the Bank of England FinTech Accelerator launched a new fintech community. The new community has three main objectives:
- to share developments, trends and insights to facilitate learning within the Bank and across the sector;
- to ensure the Bank is engaging with a range of fintech firms; and
- to increase networking across fintech-related organisations.
Digital Economy Act 2017: The pick ‘n’ mix assortment of provisions receives Royal Assent
The Digital Economy Act (the “Act“) finally received Royal Assent on 27 April 2017 and the final text has recently been published. First introduced in the House of Commons in July 2016, it has been the subject of much scrutiny and debate by both Houses of Parliament. With the General Election looming, the legislation was passed in a final sweep as part of the so-called “wash up” period before the dissolution of Parliament.