FINTECH / REGTECH

    Fintech / Regtech

    BIS Innovation Hub Launches Nordic Centre in Stockholm

    By Manesh Samtani | 16/06/2021

    The Nordic Centre was opened in collaboration with the central banks of Denmark, Iceland, Norway and Sweden.

    Enforcement

    CBIRC Reprimands Fintech Firm for Consumer Rights Violations

    By Sanday Chongo Kabange | 16/06/2021

    The CBIRC said Mashang Consumer Finance violated product pricing rules, consumer rights, and fair trade regulations.

    Fintech / Regtech

    SEBI Revises Eligibility Rules for Regulatory Sandbox

    By Sanday Chongo Kabange | 16/06/2021

    SEBI-registered entities can apply to the sandbox in partnership with other entities. Eligibility requirements are set out for two stages of sandbox testing.

    Fintech / Regtech

    China to Expand Fintech Sandbox to More Regions – Report

    By Sanday Chongo Kabange | 16/06/2021

    The governments of Dalian, Guizhou, Hubei, Shanxi and Xinjiang have reportedly unveiled plans to launch new fintech sandboxes this year.

    Crypto / Digital Assets

    More Chinese Provinces Restrict Crypto Mining Activity

    By Sanday Chongo Kabange | 15/06/2021

    Qinghai, Yunnan, and a prefecture in Xinjiang have joined Inner Mongolia in imposing restrictions on cryptocurrency mining.

    Fintech / Regtech

    BNM Sets Out New Draft Policy for E-Money Issuers

    By Manesh Samtani | 14/06/2021

    The exposure draft proposes to impose additional requirements including on capital for e-money issuers that have “substantial market presence”.

    Capital / Liquidity

    ISDA Chief Calls for Use of Common Risk Data Reporting Standard

    By Ranamita Chakraborty | 14/06/2021

    CRIF will reduce the risk data reporting burden, increase the accuracy and consistency of the information reported, and allow for more automation.

    Enforcement

    Japan FSA Orders Suspension of SBI Social Lending Unit

    By Editors | 14/06/2021

    SBI Social Lending Co solicited funds from investors with false or misleading information in lending agreements.

    AML / KYC

    UOB Pilots Digital Signing Capability via SingPass

    By Editors | 14/06/2021

    UOB is testing the use of GovTech’s ‘Sign with Singpass’ to allow a set of retail and corporate customers to confirm transactions and product applications.

    Fintech / Regtech

    El Salvador Becomes First Country to Allow Bitcoin as Legal Tender

    By Editors | 13/06/2021

    El Salvador president Nayib Bukele is inviting bitcoin miners to set up at a state-owned geothermal facility powered by a volcano.

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