Regulation and supervision of crypto assets

Table of Contents

• 2.1 Cash 3
• 2.2 Cheques 3
• 2.3 Digital wallets and prepaid cards 3
• 2.4 Debit and credit cards 3
• 2.5 Mobile and internet-based payments 3
• 3.1 Hong Kong SAR 3
• 3.2 India 3
• 3.3 Lao PDR 3
• 3.4 Malaysia 3
• 3.5 Myanmar 3
• 3.6 Nepal 3
• 3.7 Sri Lanka 3
• 3.8 Thailand 3
• 4.1 Threat of fraud and cybersecurity risk 3
• 4.2 Implementing ISO 20022 3
• 4.3 Faster payment systems 3
• Executive Summary 4
• 1. Introduction 5
• 2. Payment instruments and their share 5
• 2.1 Cash 6
• 2.2 Cheques 7
• 2.3 Digital wallets and prepaid cards 8
• 2.4 Debit and credit cards 10
• 2.5 Mobile and internet-based payments 11
• 3. Central banks as change drivers 12
• 3.1 Hong Kong SAR 12
• 3.2 India 13
• 3.3 Lao PDR 14
• 3.4 Malaysia 15
• 3.5 Myanmar 15
• 3.6 Nepal 16
• 3.7 Sri Lanka 17
• 3.8 Thailand 18
• 4. Impediments and challenges 18
• 4.1 Threat of fraud and cybersecurity risk 18
• 4.2 Implementing ISO 20022 20
• Initial Costs 21
• Resistance to change due to legacy systems 21
• Concerns of smaller financial institutions 21
• Training and education 21
• Timing and transition period 21
• Differences even within the ISO 20022 standard 21
• 4.3 Faster payment systems 22
• 5. How will the retail payments landscape evolve 23
• 6. Summary and conclusions 24
• Annexe 1 Retail payment instrument shares aggregated across jurisdictions 26
• Annexe 2 Mandate of the Study Group 27
• Background 27
• Deliverables 27
• Retail Payments Landscape in the Asia-Pacific Region 27
• Annexe 3 List of Institutions and Participants 29
• Institution Participant 29
• The SEACEN Centre team 29