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Fintech / Regtech
Crypto / Digital Assets
BOK Partners with LG Unit to Develop CBDC System
By Mark Johnston | 19/12/2023
The platform will enable authorities to jointly test the feasibility of a CBDC, which BOK governor Rhee Chang-yong says is ‘essential’ to the future of finance.
Fintech / Regtech
China Issues New Rules for Non-bank Payment Institutions
By Manesh Samtani | 19/12/2023
Regulators are imposing stricter licensing, business management, risk management and user protection rules on non-bank payment institutions.
AML / KYC
MAS Suspends Non-Bank, Non-Card Channels for China Remittances
By Editors | 19/12/2023
The move is a response to reports that remittances to China made by individuals in Singapore have been subsequently frozen by mainland law enforcement agencies.
Fintech / Regtech
BNM Sets Regulatory Requirements for BNPL Products
By Manesh Samtani | 17/12/2023
The policy prohibits “pre-approved” BNPL credit, requires affordability assessments to be performed, and limits the fees that can be charged.
Fintech / Regtech
RBA Sets Out Focus Areas for Upcoming Payments System Review
By Editors | 15/12/2023
The key focus areas for next year’s review are mobile wallets, BNPL services, and least-cost routing, Michele Bullock said.
Crypto / Digital Assets
Japan: Expert Panel Calls for CBDC Preparations to Start
By Editors | 14/12/2023
A panel of experts said work should begin “without delay” on laying the legal groundwork for the issuance of a digital yen.
Fintech / Regtech
China, Hong Kong Streamline Personal Data Sharing Across GBA
By Manesh Samtani | 14/12/2023
A standard contract will be piloted this month to allow personal data to be transferred within the GBA in a safe and orderly manner.
AML / KYC
CBA, Vodafone Announce Scam Intelligence Sharing Partnership
By Sanday Chongo Kabange | 13/12/2023
CBA and Vodafone are sharing intelligence on SMS scams to help disrupt, detect and block fraudulent payments.
Fintech / Regtech
RBI Enhances E-mandate Limit for Recurring Transactions
By Ajoy K Das | 13/12/2023
The limit for processing e-mandates for recurring payments was increased for credit card bills, insurance premiums and mutual fund subscriptions.
Fintech / Regtech
BSP Extends Moratorium on New E-Money Licences
By Sanday Chongo Kabange | 13/12/2023
The BSP has extended its moratorium on applications for new non-bank e-money issuers until 15 December 2024.
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