Fintech / Regtech

Fintech / Regtech

BSP to Issue Strict Regulations On ‘Digital Bank’ Branding

By Ranamita Chakraborty | 17/06/2021

Banks that do not meet specified conditions are prohibited from marketing themselves as digital banks, the BSP said in a circular.

AML / KYC

FATF Framework Can Better Support Financial Inclusion: RUSI

By Manesh Samtani | 16/06/2021

There are insufficient incentives within the framework to ensure the FATF Standards are implemented in a way that supports inclusion.

Fintech / Regtech

AFIN, R3 Partner to Launch CBDC Sandbox on APIX Platform

By Editors | 16/06/2021

MAS’ Sopnendu Mohanty says the collaboration will enable the global fintech ecosystem to better understand financial innovations around digital currencies.

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”.