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Enforcement
Taiwan FSC Probes Next Bank Over Possible Regulatory Breaches
By Sanday Chongo Kabange | 22/04/2021
Next Bank is one of the three internet-only banks that was issued a licence by the FSC in 2019. The bank has yet to launch operations.
Crypto / Digital Assets
HM Treasury, BOE Form CBDC Taskforce to Explore ‘Britcoin’
By Sanday Chongo Kabange | 21/04/2021
The taskforce will coordinate work to explore a potential ‘Britcoin’, though a decision has not been made on whether a CBDC would be introduced.
Big Picture
ECB Calls for Common Standards for DLT Use in Post-Trade
By Sanday Chongo Kabange | 19/04/2021
Common protocols and standards are needed to improve the use of DLT in post-trade processes and avoid market fragmentation.
Fintech / Regtech
Privacy Cited as Top Concern for a European CBDC
By Sanday Chongo Kabange | 15/04/2021
ECB survey respondents cited privacy as the top priority feature for a potential digital euro, followed by security and usability across the euro area.
AML / KYC
Digital ID Perceived As Beneficial in Combatting Financial Crime
By Manesh Samtani | 14/04/2021
Digital IDs are perceived as beneficial for the fight against financial crime, an ACAMS-RUSI survey finds. However they may also present risks.
Fintech / Regtech
FSC Korea to Create Policy on Use of AI in Financial Services
By Editors | 14/04/2021
The policy seeks to improve fairness and transparency, and protect consumers from newly emerging financial crimes.
Fintech / Regtech
Korea Enhances Regulatory Sandbox Through Legislative Revisions
By Manesh Samtani | 13/04/2021
The revisions will allow sandbox participants to file requests to the FSC and other relevant authorities for changes to regulations.
Enforcement
Regulators Order Ant Group to Establish Financial Holding Company
By Manesh Samtani | 12/04/2021
Ant Group will have to accept greater regulatory supervision, improve its corporate governance, and separate some of its businesses.
Fintech / Regtech
JD Digits to Set Up Financial Holding Company: Report
By Sanday Chongo Kabange | 12/04/2021
The financial holding company will be separate from JD Digits’ other technology businesses, and is aimed at achieving compliance with new rules for China’s fintech sector.
Fintech / Regtech
RBI to Extend RTGS, NEFT Connectivity to Nonbanks
By Editors | 10/04/2021
Digital wallet providers and card networks will be able to directly connect to the RTGS and NEFT systems.
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