Daily Edge | 6.1.23

Matt Brienen
December 13, 2022
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Central banks of Hong Kong and UAE recently met in Abu Dhabi to find ways to work together, with both jurisdictions positioning themselves as nations friendly to crypto. In their meeting, the banks agreed to strengthen cooperation on crypto regulations (which they refer to as “virtual assets”). The two authorities say they’ll now establish a joint working group. “Hong Kong and the UAE are two financial centers sharing many complementary strengths and mutual interests, and there is much room for market participants from these two places to work together and build up the connectivity,” Eddie Yue, chief executive of the HKMA, said. Banks such as First Abu Dhabi Bank, Abu Dhabi Islamic Bank and Emirates NBD represented the UAE. Meanwhile, Bank of China, Citi, HSBC, and Standard Chartered showed up for Hong Kong.
Crypto exchange Binance will cease offering trading services for privacy coins like Monero, Dash, and Zcash to its customers in France, Italy, Spain, and Poland. In total, a dozen different coins will no longer be available on the platform in these countries starting from June 26. The full list of tokens that will stop trading: Decred (DCR), Dash (DASH), Monero (XMR), Zcash (ZEC), Horizon (ZEN), PIVX, Navcoin (NAV), Secret (SCRT), Firo (FIRO), BEAM, MobileCoin (MOB), and Verge (XVG).
Today former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in insider trading through a scheme to trade ahead of multiple announcements regarding at least nine crypto asset securities.
The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for financial institutions when dealing with virtual assets, such as cryptocurrencies and non-fungible tokens, it said on Wednesday. The new guidance discusses the risks arising from dealing with virtual assets and virtual asset service providers, including on due diligence for licensed financial institutions when dealing with these customers and counterparties, the statement said.

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