Crypto Monthly Update – May 18, 2022

Course Duration: 18 minutes
Course Points: 

Fintelekt Academy presents the May 2022 Crypto Monthly Update by Calvin Koo, Cross-Border Disputes and Investigations Lawyer from Kobre & Kim LLP.

In this episode, Calvin covers the risks associated with Stablecoins and the viewpoints of various regulators on it, a round-up of crypto-related enforcement and legal news and much more!

Key issues featured in this update:

  • FATF’s Report on Stablecoins
  • Hong Kong Monetary Authority’s paper on Stablecoins
  • Dip in the cryptocurrency market
  • US Securities and Exchange Commission’s view on protecting investors in the crypto markets
  • US$182 million stolen from hack of Beanstalk
  • Laundering of funds stolen from the Axie Infinity hack
  • OFAC includes mixer services into their sanctions list
  • Central African Republic makes bitcoin legal tender

Tune in to listen to the entire episode.

Conversations: F. Christopher Calabia, Bill & Melinda Gates Foundation

Course Duration: 19 minutes
Course Points: 15

On this episode of Fridays with Fintelekt. Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with F. Christopher Calabia, Senior Advisor, Supervisory & Regulatory Policy, Bill & Melinda Gates Foundation about financial inclusion and the role of digital financial services.

The Gates Foundation supports work that addresses inequities in healthcare, education and economic empowerment, especially for women and girls and believes that access to digital financial tools allows the unbanked and underbanked sections of the population to lift themselves and their families out of poverty sustainably.

The Foundation therefore has a direct interest in promoting appropriate regulation and support for the relatively new business model of digital financial services, and in ensuring that it is not abused for money laundering or terrorism financing.

Chris applauds the FATF’s initiative in broadening the dialogue and reaching out proactively to a wider set of stakeholders to study the unintended consequences of its standards. The consultative process will bring in voices that have not been represented in these discussions before – such as the poor, women, advocacy groups and international development organisations.

The conversation explores many more themes around the role of stablecoins in financial inclusion, regulatory evolution and how it can keep pace with technology trends, and the need for innovative approaches to regulation. 

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