, UK

Weekly Global News Wrap: Britain to unveil crypto regulations; Deutsche Bank CFO now co-deputy CEO

And HSBC steps up scrutiny of Russian clients amidst sanctions.

The UK government will soon reveal plans to regulate the cryptocurrency market, focusing on a fast-growing type of token known as stablecoins, according to four industry sources familiar with the matter.

British Finance Minister Rishi Sunak is expected to make an announcement in the coming weeks about a new regulatory regime for crypto, the sources told CNBC, preferring to remain anonymous as the information hasn’t yet been made public.

From Reuters:
Deutsche Bank has promoted its finance chief James von Moltke to the role of deputy chief executive officer.

Von Moltke will be the second of two deputies, serving along with Karl von Rohr, who has had the job since 2018. He will remain CFO.

From Reuters:
HSBC is reportedly shunning prospective Russian clients and declining credit to some existing ones, two sources with knowledge of the matter told Reuters, as the bank seeks to shield itself from Western sanctions against Moscow.

HSBC had said on March 14 it is "not accepting any new business in Russia," without spelling out what that means for existing or prospective Russian customers in other markets.

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