Posts Tagged ‘regulation’

US Treasury Dept. Fintech Innovation Report Touches on Crypto, Blockchain

A major new report from the U.S. Treasury Department published July 31 has called for a more agile and conducive regulatory approach to innovations in the fintech sector. The 222-page report indicates a strong impetus on the part of the U.S. government to foster nascent financial technologies and to modernize existing regulatory frameworks in order […]

FINRA Seeks BD Feedback on How Regs Affect Fintech

The Financial Industry Regulatory Authority issued a Special Notice seeking broker-dealers comment on fintech areas such as data aggregation services, supervisory processes around the use of artificial intelligence, and the development of a taxonomy-based machine-readable rulebook. Comments are due by Oct.12. The request for comment builds on the Innovation Outreach Initiative that FINRA launched last June to […]

Cryptocurrency CFDs Limit Comes Into Force in EU

Cryptocurrency contracts for difference (CFDs) limit 2:1 was enforced on August 1 in the EU. The measure will continue at least three months with possible renewal in November. European Securities and Market Authority (ESMA) introduced the crypto restriction as part of wider intervention measures to CFDs and binary options (BOs) for retail investors, including different limits […]

Portugal unveils fintech innovation lab

The Portugal Fintech Association and Banco de Portugal have joined forces with the nation’s financial authorities to launch Portugal FinLab — a communication channel between entrepreneurs and the authorities. Entrepreneurs will be able to receive an opinion about the regulatory issues that may arise from the implementation of their projects. The opinion comes in the format […]

Jack Ma’s fintech startup shakes up China’s banks

Ant Financial Services Group, founded by Chinese billionaire Jack Ma, has become the world’s biggest financial-technology firm, driving innovations that let people use their phones for buying insurance as easily as groceries, enabling millions to go weeks at a time without using physical cash. That success is also putting a target on the company’s back. China, […]

Vietnam Continues to Outlaw All Cryptocurrency Activities in the Country

A new decision by the State Securities Commission of Vietnam spells trouble for the cryptocurrency industry in the country. All public companies and funds providers are advised not to engage in any activity related to cryptocurrency. This includes their own projects, as well as extending services to exchanges, wallet providers, and so forth. It is a […]

Bitcoin and Blockchain Among Fintech Innovation to Receive “Regulatory Sandbox” in USA

The financial regulation in the United States is slowly tilting towards blockchain and cryptocurrencies. In the latest development, the Consumer Financial Protection Bureau (CFPB) has announced it will be introducing regulatory sandboxes for fintech firms to aid them in the development of new products and services. This announcement will also include blockchain and cryptocurrencies startups. This move […]

South Korean Financial Services Commission Announces Cryptocurrency Division

South Korean Financial Services Commission (FSC) has announced a substantial organizational reshuffle that will see a new cryptocurrency division created to oversee the crypto sector — the Financial Innovation Bureau. The organization will be dealing with far more than just cryptocurrency though, with oversight on policy initiatives relating to FinTech and big data. The Financial Innovation Bureau is […]

Why regulators must be conscientious when tackling Fintech

When it comes to regulating a growth market like fintech, balance is the key watchword. This is particularly true given its status as the future of the financial services sector, not to mention its potential to resolve key social issues. If there’s one lesson that regions such as Indonesia need to take from London’s regulators, […]

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 […]