Fintech / Regtech

FSC Korea Adjusts Criteria for Authorising Internet-only Banks

By Manesh Samtani | 02/12/2024

The FSC plans to add a statutory condition under the Banking Act that will allow it to suspend an internet-only bank’s operations if it cannot execute its business plan.

Sanctions

Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report

By Editors | 02/12/2024

The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.

Fintech / Regtech

UK Launches AI Security Research Lab to Defend Against Cyber Threats

By Thisanka Siripala | 02/12/2024

The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.

AML / KYC

Central Banks Offers Legal and System Design Lessons for Retail CBDC

By Manesh Samtani | 01/12/2024

Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.

Crypto / Digital Assets

HKMA Announces Launch of Digital Bond Grant Scheme

By Editors | 30/11/2024

The scheme offers grants of up to HK$2.5mn for each eligible digital bond issuance to promote bond tokenisation in Hong Kong.

Fintech / Regtech

Japan Report Calls for Urgent Action to Address Quantum Risks

By Thisanka Siripala | 30/11/2024

Japanese FIs should have quantum-resistant cryptographic algorithms within high-priority systems ready for use by the mid-2030s.

Fintech / Regtech

China Issues Action Plan for Further Developing Digital Finance

By Editors | 30/11/2024

FIs are directed to designate a leading department for digital transformation and improve the quality and efficiency of digital financial services.

Fintech / Regtech

HKUST Launches New GenAI Platform for Financial Sector

By Sanday Chongo Kabange | 29/11/2024

HKUST’s new InvestLM, designed to support the financial services industry, is available through the HKMA’s GenAI Sandbox.

Fintech / Regtech

New Association Launches in Hong Kong to Advance AI Adoption

By Sanday Chongo Kabange | 28/11/2024

The new association seeks to advance the development, adoption, commercialisation and use of AI across Hong Kong.

Crypto / Digital Assets

UK FCA Unveils Plans for Crypto Regulation, Tokenisation

By Manesh Samtani | 28/11/2024

Several discussion papers and consultations will be issued between now and early 2026. The new crypto regime will go live within 2026.

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