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Fintech / Regtech
BOK Seeks Consulting Partnership to Advance CBDC Work
By Editors | 31/08/2020
BOK is looking to partner with a local company to establish the system architecture for a CBDC to initiate a pilot test by end-2021.
AML / KYC
Trade-based Money Laundering: Avoiding Murky Waters
By Jamil Ahmed | 31/08/2020
HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.
Fintech / Regtech
FSC Taiwan Unveils Three-year Fintech Development Roadmap
By Editors | 30/08/2020
The roadmap includes a new fintech examination and licensing system, to be introduced by 2022, and consent-based data sharing as part of an open banking push.
Fintech / Regtech
New P2P Lending Legislation Takes Effect in Korea
By Editors | 26/08/2020
Under the law, P2P lenders must meet new capital requirements and be registered with the FSC. Consumer protection is also enhanced.
Fintech / Regtech
ASIC Issues Guidance on Use of Enhanced Regulatory Sandbox
By Manesh Samtani | 25/08/2020
The enhanced regulatory sandbox will commence on 1 September, following legislative amendments passed in February and subsequent regulations made in May.
Fintech / Regtech
Digital Yuan Testing Limited to Small Transactions Only, PBOC Clarifies
By Sanday Chongo Kabange | 25/08/2020
China is currently testing its sovereign digital currency with four state-run commercial banks in Shenzhen, Suzhou, Xiongan and Chengdu.
Fintech / Regtech
PBOC to Construct New Infrastructure in Big Data Hub
By Lucy Zhang | 24/08/2020
The new high-security data centre will be built in Guian New Area and become a key component of the PBOC’s new financial infrastructure.
Crypto / Digital Assets
Malaysia, Indonesia Regulators Sign Fintech Cooperation Pact
By Sanday Chongo Kabange | 24/08/2020
The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.
Fintech / Regtech
Hong Kong AoF Publishes Report on AI Adoption in Banking
By Editors | 23/08/2020
The report provides insights about the risk management frameworks and overarching supervisory principles banks use when adopting artificial intelligence.
AML / KYC
SFC Grants In-principle Approval to Virtual Asset Trading Platform
By Editors | 23/08/2020
Once conditions for final approval are satisfied, OSL will be able allowed to operate a brokerage and automated trading service for digital assets.
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