Global Regulation
Quantum Updates 35: HK SFC Releases Aspire Roadmap for VA Regulation | February 2025
On 19 February 2025, the Hong Kong Securities and Futures Commission (HK SFC) launched the “A-S-P-I-Re” roadmap, launched a five pillar framework, mapping the Virtual Asset Ecosystem, its Composition, Dynamics, and the Imperative for Strategic Regulation of Hong Kong’s virtual asset (VA) regulations.
Quantum Updates 34: HK SFC Convenes VA Panel | February 2025
On 14 February 2025, the Hong Kong Securities and Futures Commission (HK SFC) convened the inaugural meeting of the Hong Kong Virtual Asset Consultative Panel (VACP), an advisory body dedicated to shaping the regulatory framework for virtual assets in Hong Kong.
Quantum Updates 33: IMF on Tokenisation and Markets | February 2025
The IMF has released its latest Fintech Note, ‘Tokenization and Financial Market Inefficiencies,’ examining how tokenisation, a financial innovation powered by digital ledger technology, could address inefficiencies in financial markets.
Quantum Updates 32: Peirce Endorses Crypto Task Force | February 2025
On 4 February 2025, US SEC Commissioner Hester M. Peirce published her statement titled The Journey Begins, after the launch of the US Crypto Task Force.
Quantum Updates 31: CFTC’s AI Task Force Plans | January 2025
On 20 January 2025, US CFTC Commissioner Kristin Johnson delivered speech at the Global Blockchain Business Council’s 8th Annual Blockchain Central Davos, held alongside the 2025 World Economic Forum.
Quantum Updates 30: HK SFC Sets Conduct Standards | January 2025
On 16 January 2025, HK SFC issued new regulatory standards for VATPs following inspections under the deemed licensing framework.
Quantum Updates 29: HK SFC Warns on ISCAT | January 2025
On 10 January 2025, HK SFC issued a public warning against “iSCAT Exchange,” an unlicensed virtual asset trading platform operating unlawfully under Hong Kong regulations.
Quantum Updates 28: BIS Urges AI Finance Oversight | January 2025
On 12 December 2024, the Bank for International Settlements (BIS) published FSI Insights No. 63, titled “Regulating AI in the Financial Sector: Recent Developments and Main Challenges.” The report examines and elaborates on the rapid adoption of AI in banking and insurance sector, highlighting its transformative potential and associated risks. It outlines a regulatory framework to balance innovation with financial stability, addressing governance, ethical concerns, and sustainability challenges.
Quantum Updates 27: FINMA Issues AI Governance Guide | December 2024
On 18 December 2024, the Swiss Financial Market Supervisory Authority (FINMA) published Guidance 08/2024 on governance and risk management for supervised financial institutions using artificial intelligence (AI). The guidance addresses operational, legal, and reputational risks posed by AI while reinforcing oversight practices in Switzerland’s financial sector.
Quantum Updates 26: ASIC Fines Kraken Entity | December 2024
On 12 December 2024, the Australian Federal Court, in its judgment Australian Securities and Investments Commission v Bit Trade Pty Ltd 2024 FCA 1422, ordered Bit Trade Pty Ltd, the Australian operator of the Kraken cryptocurrency exchange, to pay AUD 8 million in penalties. The decision followed legal proceedings initiated by the Australian Securities and Investments Commission (ASIC), which found Bit Trade unlawfully issued a margin trading product to over 1,100 retail clients without meeting critical regulatory obligations under the Australian Corporations Act 2001 (Cth).
Quantum Updates 25: MAS Sets Ethical AI Rules | December 2024
On 5 December 2024, the Monetary Authority of Singapore (MAS) released an information paper to provide good practices for Artificial Intelligence (AI) and Generative AI risk management in banking. Based on findings from a thematic review conducted in mid-2024, the paper outlines governance frameworks, risk management systems, and development protocols that banks and financial institutions are encouraged to adopt for responsible AI deployment.
Quantum Updates 24: HK Stablecoin Bill Advances | December 2024
On 6 December 2024, the Hong Kong Government announced the publication of the Hong Kong Stablecoins Bill in the Gazette.