Posts Tagged ‘regulation’

Thailand tightens its grip on ICO regulation

The Thai Securities and Exchange Commission (SEC) are preparing to launch its first regulated ICO portal later this month. It appears that ICOs will be vetted on a case-by-case basis and will be added to the portal shortly after its launch, although there is no mention of a set date as yet. Thai regulators believe having […]

Taiwan Amends AML/CFT Laws, Includes Regulatory Requirements for Cryptocurrency Operations

Taiwan’s legislature has amended the country’s anti-money laundering and terrorism financing prevention laws to include regulatory requirements for cryptocurrency transactions. The amendments grant the country’s top financial regulator, the Financial Supervisory Commission (FSC) the power to clamp down on anonymous cryptocurrency transactions. Beyond regulating digital currency transactions, FSC can also monitor crypto exchange operators. Based […]

Brazilian Tax Regulator Publishes Draft on Cryptocurrency Taxation

The Department of Federal Revenue of Brazil (RFB), which administers tax collection in the country, has announced that Brazil-based crypto exchanges are now obliged to send them detailed reports on all crypto-related operations on monthly basis. For instance, the companies have to reveal the amounts of transactions and the identity of the customers. Moreover, both legal entities […]

Russia’s Financial Watchdog to Oversee the Cryptocurrency Industry

Russia’s Federal Financial Monitoring Service (Rosfinmonitoring, as the regulator is known in Russia) plans to register, license and monitor cryptocurrency exchanges, crowdfunding platforms and providers of wallet services for digital assets, Russian media outlets have reported. The financial watchdog will regulate the exchange of cryptocurrencies and fiat money, as well as transactions between digital assets. […]

Fintech development and regulation highly variable across Europe: report

The greatest regulatory obstacles blocking fintech development across the EU are prudential rules, AML regulations and data protection procedures, according to new research by FECIF, the pan-European trade association for Financial Advisers and Intermediaries. In this third survey, under the FECIF Expertise Initiative, a total of 11 national associations participated, covering nine core EU countries with […]

BMCC Webinar: Fintech Regulatory Environment In Malaysia

This free webinar is geared towards assisting high potential companies who are keen on doing business in Malaysia. The objective of this Webinar is to outline Malaysia’s regulatory framework for the Fintech industry. When: Wed, Nov 21, 2018 12:30 PM — 1:30 PM AST Read more Register

The SEC Is Setting Up a New Division to Talk to ICO Startups

The U.S. SEC is launching a new division with the goal of making it simpler for fintech startups – including those launching ICOs – to navigate the legal implications of their products. The Strategic Hub for Innovation and Financial Technology will act as a central point for the securities regulator to interact with entrepreneurs and […]

Mexico Crypto Laws Wins Int’l Praise — and Warnings

A G24 report presented at the IMF-World Bank Bali Fintech event heaped praise on Mexico for pioneering “financial inclusion.” From March next year, crypto exchanges will need to apply to the central bank, Bexico, for operating permits. Exchanges will have to meet a range of Bexico criteria if they are to obtain permits, proving they […]

Fintech Regulation: New Law to Impact Mobile Wallet Operators in Singapore

Singapore is about to introduce a new law to prevent shadow banking by requiring mobile wallet operators and payments startups to ring-fence deposits so they don’t function as unregulated banks. The new rules, which are likely to become legislation by the end of the year or early next year, is part of the Payment Service Bill […]

RBI’s local data storage norms kick in today; foreign firms seek more time

Reserve Bank of India (RBI), the country’s central bank and regulator, had made it clear that global payment companies will have to store transaction data of Indian customers within India. The RBI’s deadline for global fintech companies to comply with its data localisation norms kicks in on Monday. Senior officials said the deadline will not be deferred […]