Fintech / Regtech

AML / KYC

FSC Korea to Introduce FATF-aligned AML Rules for VASPs

By Editors | 04/11/2020

Under the new rules, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transactions worth more than KRW 1 million.

Fintech / Regtech

Hong Kong, China Successfully Connect Trade Finance Platforms

By Manesh Samtani | 03/11/2020

Seven banks have already used the connection to conduct cross-border trade financing transactions, with the total trade value exceeding HK$26mn.

Fintech / Regtech

Fintech-related Regulatory Initiatives Accelerated by Covid-19

By Editors | 03/11/2020

Most regulators either accelerated or introduced new innovation initiatives in response to Covid-19. No such initiatives were cancelled, says a report from the World Bank and CCAF.

AML / KYC

Hong Kong to Align Crypto Regulatory Framework with FATF Standards

By Manesh Samtani | 03/11/2020

The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.

Capital / Liquidity

PBOC, CBIRC Issue Draft Rules for Small Loans Businesses

By Editors | 03/11/2020

Microfinance businesses must have a registered capital of at least CNY 1 billion. Those operating across provincial borders must have at least CNY 5 billion.

AML / KYC

Singapore Bill to Align Payment Services Act with FATF Standards

By Editors | 03/11/2020

The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.

Fintech / Regtech

RBA Launches New Project to Explore Wholesale CBDC

By Editors | 03/11/2020

The RBA has partnered with CBA, NAB, Perpetual and ConsenSys to explore if there is a future role for a wholesale CBDC in the Australian payments system.

Fintech / Regtech

HKMA to Target Accelerated RegTech Adoption in 2021

By Manesh Samtani | 03/11/2020

The HKMA wants to see banks embracing and trialling new technologies and proofs of concept, and ultimately adopting more Regtech solutions, said central banker Arthur Yuen.

Fintech / Regtech

HKMA Unveils Financial Infrastructure Project to Facilitate SME Lending

By Manesh Samtani | 02/11/2020

The HKMA is working with banks to study the feasibility of the ‘Commercial Data Interchange’, a new financial infrastructure to facilitate financial intermediation.