Fintech / Regtech

Fintech / Regtech

FSC Korea Reiterates Plans to Regulate Bigtech in Financial Services

By Sanday Chongo Kabange | 17/01/2022

The FSC will apply “same rules for same services” to ensure fair competition between bigtech firms and financial institutions.

AML / KYC

Crime Becoming Smaller Part of Crypto Ecosystem: Report

By Manesh Samtani | 17/01/2022

Chainalysis estimates that illicit wallet addresses received $14bn throughout 2021, but this represented just 0.15% of total transaction volumes in crypto during the year.

Fintech / Regtech

China State Planner Declares Cryptocurrency Mining Obsolete

By Mark Johnston | 14/01/2022

The NDRC said that measures to stamp out cryptocurrency mining are part of efforts to help achieve peak carbon and carbon neutrality targets on schedule.

Fintech / Regtech

South Korea to Designate More ‘Data Specialising Institutions’

By Sanday Chongo Kabange | 13/01/2022

Data specialising institutions are allowed to converge anonymised and pseudonymised data originating from different businesses for analytics purposes.

Big Picture

Policy Reforms Needed for Platform-based Financial Services: BIS

By Sanday Chongo Kabange | 13/01/2022

A BIS paper says platform-based business models can lower costs and aid financial inclusion, but they can also give rise to digital monopolies and oligopolies.

Crypto / Digital Assets

BIS, SNB, SIX Complete wCBDC Integration Test with Bank Systems

By Editors | 13/01/2022

In the second phase of Project Helvetia, a wholesale CBDC was used to test settlement of interbank, monetary policy and cross-border transactions with banking systems.

Fintech / Regtech

Thailand Taxation Rules for Crypto to be Ready Soon

By Mark Johnston | 13/01/2022

A 15% capital gains tax will be applied to investors as well as operators of crypto mining facilities, but not crypto exchanges.

Fintech / Regtech

HKMA to Introduce Regulatory Framework for Stablecoins

By Mark Johnston | 13/01/2022

Only Hong Kong incorporated entities licensed by the HKMA would be allowed to actively market stablecoins to the local public.

Fintech / Regtech

MAS Publishes Global CBDC Challenge 2021 Report

By Editors | 11/01/2022

MAS hopes to galvanise the financial ecosystem to co-create the next generation of payment rails built on the latest innovations.