Global Regulation

On 11 March 2025, the US SEC published a notice inviting public comment on a proposed rule change submitted by NYSE Arca, Inc.

The FATF published its latest update on jurisdictions under increased monitoring, commonly known as the Grey List, dated 21 February 2025.

On 27 February 2025, the US SEC published Joint Stipulation to Dismiss, and Release and thereby dismissed its civil enforcement action against Coinbase Inc. and Coinbase Global Inc.

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.

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.

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.

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.

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.

On 16 January 2025, HK SFC issued new regulatory standards for VATPs following inspections under the deemed licensing framework.

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.

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.

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.