The following summarizes the key points regarding the latest regulatory developments and industry-wide market trends related to crypto assets and central bank digital currencies.
Regulatory space
- Bank for International Settlements (BIS): Project mBridge reaches viable product stage and handed over to central banks.
- Private sector partners join Project Agorá.
- HKMA commences Phase 2 of e-HKD pilot program and expands Project e-HKD to explore new forms of digital money.
- UAE exempts crypto transactions from value-added tax.
Markets
- UBS Asset Management Launches Tokenized Money Market Fund.
- SWIFT to trial live digital currency transactions next year.
- OKX Partners with Standard Chartered for Institutional Crypto Custody.
- PayPal to allow cryptocurrency buying, holding and selling for US merchants
Technology
- JPMorgan to Launch Instant FX Settlement with Kinexys.
- UK Finance Announces Success of Regulated Liability Network Experimentation Phase.
- Archax and Ripple Collaborate to Tokenize abrdn Money Market Fund on XRP Ledger.