Robert MacDonald

𝗛𝗼𝗻𝗴 𝗞𝗼𝗻𝗴’𝘀 𝗦𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻 𝗥𝘂𝗹𝗲𝘀 & 𝘁𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗖𝗹𝗼𝘀𝗲𝗱-𝗟𝗼𝗼𝗽 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗖𝘂𝗿𝗿𝗲𝗻𝗰𝘆 𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺𝘀 Hong Kong’s upcoming stablecoin legislation introduces a “whitelisted address” requirement, meaning only approved entities will be permitted to hold and transact with stablecoins. This marks a significant shift toward stronger regulatory oversight and controlled circulation of digital value, while also enhancing consumer privacy and reducing the regulatory burden for service providers. At Quantoz, this approach is already at the core of our 𝗡𝗘𝗫𝗨𝗦 𝗦𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻 𝗟𝗶𝗳𝗲𝗰𝘆𝗰𝗹𝗲 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺. NEXUS enables closed-loop stablecoin ecosystems that align with Hong Kong's model. Every transaction occurs within a network of pre-approved, onboarded participants, delivering compliance-by-design. A real-world example is #EURD, the euro-denominated Electronic Money Token (#EMT) issued by Quantoz via the NEXUS platform. EURD operates in a permissioned environment, where all users are identified and verified before gaining access. This mirrors Hong Kong’s proposed requirements for holder identification and access control. By embedding KYC/AML procedures and transaction monitoring directly into the infrastructure, NEXUS offers both institutional-grade control and the efficiency and programmability of digital assets. The future of compliant stablecoins is here, and it’s built into NEXUS. Visit www.quantoznexus.com for more information

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Thrilled to have been on Nation TV’s 'Fixing the Nation', unpacking Kenya’s VASP Act, 2025 and its potential for innovation, employment, and investor confidence. Key Highlights 💡 💡 : 1️⃣ Stablecoins = real utility. We broke down what stablecoins are and how they power cost-efficient cross-border remittances. Stablecoins have become a popular method for diaspora remittances due to lower fees (under 1%) and faster settlement times compared to traditional channels. Businesses, including importers and exporters, are using stablecoins to simplify cross-border payments and manage liquidity. According to recent Chainalysis, Kenya processed ~US$3B in stablecoin transactions in 2024, reflecting strong, practical demand. We also touched on speculative assets like bitcoin, separating hype from fundamentals and spotlighting the talent and roles that a maturing regulatory landscape will create. 2️⃣ Activity-based Regulation. The VASP Act introduces activity-based licensing, bringing a long-grey industry into the light by clearly defining categories and requiring licenses for centralized exchanges, wallet providers, on- and off-ramp platforms, asset managers, tokenization platforms, and more. Crucially, supervision follows the nature of the service: “payment-like” or “banking-like” activities fall under the Central Bank of Kenya (CBK), while “investment-like” or "fund-management-like" services are regulated by the Capital Markets Authority (CMA)—a structure designed to match risks with the right regulator and boost market confidence. 3️⃣ Bridging TradFi & virtual assets: For 10 years, a CBK cautionary notice issued in 2015, kept many banks from serving crypto firms. By requiring VASPs to maintain bank accounts, the Act nullifies that Cautionary Notice—making it easier for banks to work with regulated providers and unlocking new, trusted partnerships across the financial ecosystem. 4️⃣ AML Issues: Strong alignment with international AML/CTF standards and FATF recommendations supports Kenya’s path toward addressing grey-listing concerns. 5️⃣ Consumer protection first. The Act establishes a framework to safeguard Kenyan consumers—aiming to prevent firms from vanishing with user funds and to ensure stronger controls, disclosures, and accountability across the ecosystem. Kenya now stands among Africa’s leading countries with virtual asset regulations—alongside South Africa, Botswana, Mauritius, and Seychelles. We’re not far behind global pace-setters like the U.S. GENIUS Act, Europe’s MiCA and Singapore's Payment Services Act (PSA) https://lnkd.in/dEBxCYQC Virtual Assets Chamber Africa Stablecoin Summit Chasing Mavericks #Kenya #Fintech #DigitalAssets #Stablecoins #Remittances #Regulation #VASPs #FinancialInclusion #InvestInKenya #PublicPolicy #Innovation

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ISO 20022 Migration: What’s Next After November 2025? By November 2025, the coexistence of legacy formats and ISO 20022 for cross-border payments will formally end—but the migration journey is far from over. A phased transition has now been outlined for the rest of the financial messaging ecosystem. Here’s what financial institutions need to know: 🔹 Structured Data First Structured or hybrid postal addresses will be mandatory starting 2026. Free-text address fields will no longer be accepted in payment messages. This is a crucial step toward improving data quality and downstream automation. 🔹 Legacy MT Instructions Retired Popular message types for customer and institutional payments will be decommissioned. ISO 20022 equivalents are now the default for all new payment flows, with interim conversion services subject to additional scrutiny and cost. 🔹 Exception & Investigation Flows Are Changing Manual message chains for investigating payments are being replaced by ISO-native case messages and digital case handling frameworks. By 2027, legacy formats for E&I and payment cancellations will be retired. 🔹 Reporting & Statements Going ISO Account statements and balance messages will move to the ISO 20022 standard by 2028. Institutions must be ready to receive and reconcile camt-based messages by 2027 to avoid disruptions. 🔹 Other Domains to Follow Initiation messages, direct debits, and cheque flows are now on a staged path to ISO 20022, with cutover dates ranging from 2026 to 2028. At Nth Exception, we’re already helping FIs make the shift to ISO 20022-native operations. Full Details https://lnkd.in/gKwEHBAP Knowledge Centre #iso20022 #payments #swift

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The People's Bank of China has recently placed three major payment platforms, namely Alipay, Tenpay Global and 网联清算有限公司 （NetsUnion Clearing Corp.), under direct anti-money laundering oversight. This is part of a broader push to tighten financial regulation and curb illicit transactions. Alipay and Tenpay, both non-bank institutions, play a dominant role in China's third-party payment sector. In 2024, China UnionPay led the market with a 26.6% share last year, followed by Shanghai-based Alipay at 20.7% and Tencent pay at 18.3%. Meanwhile,anti-money laundering compliance has become a significant area of concern for third-party payment firms, with many facing regulatory scrutiny in recent years. In 2024 alone, the People's Bank of China issued 55 penalties to such companies, with fines and confiscations amounting to around CNY174 million ($24 million). The most severe penalties, which refer to those exceeding CNY10 million ($1.4 million), were tied to anti-money laundering violations and weak customer identity verification practices.#China #centralbank #watch #thirdparties #payment

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As Chairman of the Middle East Stablecoin Association - MESA, economic historian, ex-banker regulator and British civil servant, a family office investor in stablecoins and related firms, chairing boards of firms wishing to issue stablecoins and supporting issuers, I appreciate Barry Eichengreen historical perspective published in the The New York Times but his Free Banking Era analogy doesn’t hold up today. He warns us that allowing companies like Walmart or Amazon to issue their own stablecoins will resurrect the chaotic Free Banking Era of the 19th century, complete with panics, bank runs, and a confusing multiplicity of currencies. The argument that “letting a thousand cryptos flourish” is inherently dangerous is a bit strange as if innovation itself is some sort of contagion to be quarantined. The Free Banking Era was indeed messy, but it was also a period of experimentation that ultimately informed the creation of a more robust, centralized monetary system. It’s a bit like saying we should abandon airplanes because early hot air balloons were unpredictable. Modern stablecoin frameworks like the FSRA at ADGM require stablecoins to be 1:1 backed by high-quality liquid assets, with daily reconciliations, independent attestations, and continuous regulatory supervision. Consumer protection, fit-and-proper requirements, and explicit redemption rights are all mandatory—eliminating the opacity and risk of 19th-century banknotes. The USA Senate-passed Genius Act goes further: strict reserve requirements, tiered state/federal oversight, monthly public audits, and guaranteed redemption at par. Large issuers must maintain extra liquidity and submit wind-down plans to prevent contagion. Both regimes ensure transparency, uniformity, and robust risk controls—precisely what was missing in the Free Banking Era. Today’s stablecoin regulation is built to prevent the very chaos Prof. Eichengreen fears. History is a guide, not a cage. Let’s recognize how far regulatory innovation has come. I am looking forward to a robust regulatory roundtable next week lead by our own Kokila Alagh who is our amazing chair of the associations Legal committee with the regulators in Abu Dhabi. And then we have detailed regulatory discussions planned with the Virtual Assets Regulatory Authority [VARA], Dubai Financial Services Authority (DFSA) and then the Central Bank of The UAE. The UAE is in the forefront of progressive regulations but well risk managed ones. Loredana Matei (Matthews) Ramy S. Zarah Estermann Kristiina Lumeste #stablecoins #regulation #innovation #ADGM #GeniusAct #DFSA #DIFC #FSRA #uae

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UK Stablecoin regulation - our below briefing note describes the Financial Conduct Authority's proposed rules for stablecoins for market participants.   This covers Consultation Paper 25/14 Stablecoin Issuance and Cryptoasset Custody, including:   • The FCA's proposed regulatory scope and approach • Backing assets • Redemption • Custody   For further information - or to discuss implications for your firm - contact our team.   Vishwas Khanna Frederic Gielen Roberto Tognoni Rohan Wilson Anthony Ma, JP Derren Neligan Mushaf Ali Jeff Courtney Maurizio Sironi Eduardo Bastida Carlos Matilla Sanz #AvantageReply #Stablecoin #FinancialRegulation #RiskManagement

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