Fintech / Regtech

Fintech / Regtech

China Sets Timelines for Fintechs to Complete Restructuring

By Sanday Chongo Kabange | 21/07/2021

The affected fintechs have until end-2021 to restructure their financial services businesses, and until end-2022 to clean up their credit reporting businesses.

Fintech / Regtech

Japan FSA Launches New Section to Oversee Crypto Regulation

By Sanday Chongo Kabange | 19/07/2021

The FSA has reportedly created a new position to head the section, which will also oversee decentralised finance and deepen dialogue with foreign regulators.

AML / KYC

BOT Warns Against Using Crypto As Means of Payment

By Sanday Chongo Kabange | 18/07/2021

If the use of digital assets as a means of payment for goods and services become widespread, the BOT will take action in coordination with the SEC.

Crypto / Digital Assets

Vietnam to Explore Creation of Digital Currency

By Sanday Chongo Kabange | 18/07/2021

Vietnam’s strategy on digitising the local government includes directions for the SBV to pilot the use of a digital currency.

Fintech / Regtech

S. Korea: MyData Launch to be Delayed for More Testing

By Sanday Chongo Kabange | 17/07/2021

The Covid-19 pandemic and a lack of IT engineers are said to be stalling system development and API testing.

Fintech / Regtech

ECB Launches Multi-year Digital Euro Project

By Ranamita Chakraborty | 15/07/2021

The plan is to allow regulated banks and fintechs to open accounts at the ECB so they can offer digital euro wallets to customers.

Fintech / Regtech

BOK Unveils Firms Seeking to Participate in CBDC Project

By Sanday Chongo Kabange | 15/07/2021

Units of SK Group, Naver and Kakao are the three firms competing to work on a CBDC project which will commence next month.

Big Picture

Multilateral Collaboration Essential for CBDC Development

By Editors | 13/07/2021

A new report from CPMI, BIS Innovation Hub, the IMF and the World Bank highlights the need for multilateral collaboration and interoperability between CBDCs.

Fintech / Regtech

MAS Launches ‘Veritas Challenge’ to Strengthen Trust in AI

By Manesh Samtani | 12/07/2021

MAS invites fintechs, solution providers and FIs to submit innovative solutions to help validate the fairness of AI solutions for selected banking use cases.