Fintech / Regtech

Fintech / Regtech

China to Ban Collection of ‘Irrelevant’ Personal Data By Mobile Apps

By Sanday Chongo Kabange | 25/03/2021

Under new guidelines, mobile apps cannot deny users access to their services if users refuse to share unnecessary personal information.

Fintech / Regtech

Line Pay to Bring Data Stored Overseas Back to Japan

By Sanday Chongo Kabange | 25/03/2021

Line must submit detailed reports to Japanese authorities explaining how it protects personal data, after employees at a China affiliate were found to have access to user information.

Fintech / Regtech

Internet-only LINE Bank Commences Trial Operations in Taiwan

By Editors | 25/03/2021

Only LINE Bank employees will participate in the trial operations. Depending on the results, full operations could commence by late April.

Fintech / Regtech

Project Aurum: HKMA to Explore General Purpose CBDC

By Manesh Samtani | 25/03/2021

Project Aurum will explore the benefits and challenges of different architectures for the distribution of a general purpose CBDC.

Fintech / Regtech

BOT Outlines Plans to Develop Policy on Stablecoins

By Sanday Chongo Kabange | 24/03/2021

Parties seeking to issue a THB-backed stablecoin are required to consult with the BOT before beginning any operations. A consultation will be issued by mid-year.

Fintech / Regtech

BSP, PDAX to Cooperate on Crypto-and-Fintech Regulatory Sandbox

By Editors | 23/03/2021

A crypto-and-fintech regulatory sandbox will boost innovation and technological advancement in financial services, while also increasing public participation in these markets.

Fintech / Regtech

SFA, Remittance Association to Jointly Strengthen SG Remittance Industry

By Editors | 22/03/2021

The SFA Remittance Sub-Committee has been launched to promote the adoption of technologies to strengthen Singapore’s money remittance industry.

AML / KYC

Korea’s New AML Law for VASPs Set to Take Effect

By Sanday Chongo Kabange | 22/03/2021

From 25 March, VASPs will have six months to register with KoFIU, and must start report suspicious transactions. The travel rule will apply one year later.

AML / KYC

FATF Seeks Stakeholder Views on Updated VASP Guidance

By Editors | 21/03/2021

Views are sought from academics, policy bodies, VASPs, technology developers and providers, other regulated entities such as banks, and authorities.