Fintech / Regtech

Fintech / Regtech

Data Protection Rules in China: An Ongoing Cycle of Reinvention

By Jingyuan Shi | 21/12/2023

Jingyuan Shi discusses China’s changing rules on cross-border data transfer and examines the extra-territorial implications.

Crypto / Digital Assets

UK to Launch Digital Securities Sandbox on 8 Jan 2024

By Editors | 20/12/2023

The sandbox will allow FMIs to test the use of new technology including DLT to operate trading venues and perform CSD activities.

Fintech / Regtech

BSP Retains Moratorium on InstaPay and PESONet Fee Increases

By Sanday Chongo Kabange | 20/12/2023

The moratorium will remain in place as the BSP works to eliminate fees entirely for small e-payment transactions.

Fintech / Regtech

FSS Korea Targets Third-Party Risk Management With New Guidance

By Mark Johnston | 20/12/2023

The FSS has issued guidance to improve third-party risk management at firms that provide financial services electronically.

Fintech / Regtech

Japan, Cambodia Agree to Establish Cross-border QR Payment Link

By Editors | 19/12/2023

Japan’s METI and Cambodia’s central bank signed an MoC establishing a framework to cooperate on cross-border payment systems using QR Code technology.

AML / KYC

HKMA Fines SVF Licensee TNG for AML Compliance Failures

By Sanday Chongo Kabange | 19/12/2023

The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.

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.