Posts Tagged ‘regulation’

Saudi Regulator Approves First Two Fintech Licenses

Saudi Arabia’s Capital Market Authority has awarded first two fintech licenses on a trial basis to Riyadh-based firms – Manafa Capital and Scopeer – which qualify them to provide crowdfunding investment services in the oil-rich country. Individual investors will now be able to benefit from electronic crowdfunding platforms which will allow them to obtain shares in […]

Kingdom of Thailand Publishes New ICO Legalization Framework

The Thai Securities and Exchange Commission officially announced the upcoming launch of a new regulatory framework for cryptocurrencies and ICOs, scheduled to come into effect July 16, 2018. The pro-crypto Southeast Asian nation recently announced the legalization of domestic cryptocurrency markets with two royal decrees earlier this year. The Thai SEC’s statement unequivocally outlines the Thai […]

Fintech will pose systemic risk as it grows, warns RBA

The Reserve Bank of Australia has warned that fintech companies will eventually pose a systemic risk if they become big enough and regulators must work out standards to set for the technological change sweeping the payments sector. Reserve Bank assistant governor Michele Bullock  told a conference in China on Sunday that regulators globally were focused on protecting […]

Huge cryptocurrency theft increase draws global regulator attention, study finds

A significant increase in cryptocurrency theft within the first half of 2018 has sparked the concern of regulators around the world, according to a study from blockchain security developer CipherTrace. The 2018 Q2 Cryptocurrency Anti-Money Laundering Report also provides insight into the pending global co-operation and crackdown by the G20’s 37-nation financial crime-fighting group, the Financial Action Task […]

U.S. Treasury previews upcoming report on fintech reforms

A report from the U.S. Treasury Department on financial technology will make wide-ranging recommendations about how to modernize regulation at the federal and state levels to promote innovation in financial services. The report, which is expected to be released in the coming weeks, will be the fourth and final in a series the Treasury was […]

Fintechs have 6 months to meet new cyber security standards – BoG warns

The Bank of Ghana (BoG) has urged all fintechs operating in the country to improve their cybersecurity systems to meet international standard requirements ahead of the passage of the Payment Systems and Services Bill by end of 2018. According to the central bank, the new law will take into account technology, innovation, and consumers’ demand […]

5 ICO projects may soon launch in Thailand, regulator says

The Thai financial regulator, the Securities and Exchange Commission (SEC), is poised to approve five ICO projects to register for fundraising procedures, as soon as the organic law of Thailand’s digital asset decree takes effect in late June. The SEC has received a total of 50 applications for ICO projects seeking to raise funds from the Thai […]

Home Office to offer startup visas to foreign tech entrepreneurs

The UK government plans to open up more visas for foreign tech entrepreneurs to start businesses in the UK. This new ‘startup visa’, designed following advice from the Migration Advisory Committee and feedback from the tech sector, will replace the scrapped graduate visa route, and will require applicants to have an endorsement from a university […]

Thai Sec Confirms ICO Tokens Will Not Be Traded Against Fiat Currencies

The SEC in Thailand is ready to regulate cryptocurrency in the country. Cryptocurrency regulation will bring more legitimacy to this industry. A key aspect of the new rules is that ICO tokens cannot be traded for fiat. The agency seeks to make all service providers comply with these rules by the end of June. It is an organic […]

Lithuanian gov’t among first in EU releasing ICO guidelines

The Lithuanian Finance Ministry has released the comprehensive guidelines for ICO amid the country’s efforts to become a location for ICO projects. The guidelines cover regulatory, corporate, indirect taxation, accounting and anti-money laundering aspects for ICO projects. The document also describes which funds raised through ICOs are subject to corporate or personal income taxes, value added tax. […]