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AML / KYC
New KYC Norms a Turn-off for India’s Mobile Wallet Users
By Garima Chitkara | 22/02/2018
Less than half of wallet consumers opted to be KYC-compliant before the 28 February deadline; new KYC norms will force telecom firms to verify customer data using third-parties, taking away their current advantage over other payment firms.
Crypto / Digital Assets
S.Korea to ‘Encourage’ Banks to Deal with Crypto Exchanges
By Manesh Samtani | 22/02/2018
FSS governor says government will support ‘normalised trading’ of cryptocurrencies, requiring interaction of banks and crypto exchanges.
Crypto / Digital Assets
Japan FSA to Empower Self Regulatory Body for Cryptocurrency
By Manesh Samtani | 19/02/2018
Self regulatory organisation will create rules and set penalties for breaches of self-imposed rules.
Crypto / Digital Assets
S. Korea Explores NY-style ‘Bitlicense’ for Cryptocurrency
By Manesh Samtani | 14/02/2018
The plan could include minimum capital and financial reporting requirements to qualify for a cryptocurrency exchange license.
Crypto / Digital Assets
Thailand Banks Banned from Cryptocurrency Activities
By Manesh Samtani | 14/02/2018
Banks prohibited from trading, advising on, and creating platforms for cryptocurrency.
Fintech / Regtech
Australia Launches Real Time Payments Platform
By Manesh Samtani | 14/02/2018
New Payments Platform enables instant transfers between accounts at different financial institutions, at “any time of day, any day of the year.”
Big Picture
Too Early to Assess Fintech Risks – DTCC
By Samuel Riding | 14/02/2018
Firm suggests fintech adoption has clear benefits, but the systemic risks from increased adoption have yet to fully emerge.
Fintech / Regtech
MAS Consults on E-Payment Guidelines
By Editors | 14/02/2018
The guidelines set standards on financial institutions providing e-payment services and their users.
Fintech / Regtech
HKMA Virtual Bank Rules – Dull, Timid Bureaucracy
By Peter Guy | 12/02/2018
Proposed virtual banks rules fail to address the true future of financial services, risking Hong Kong’s descent into irrelevancy.
Fintech / Regtech
India to Stiffen Personal Privacy Law, Create Fintech Sandbox
By Samuel Riding | 12/02/2018
Inter-regulatory group concerned about ‘dearth’ of coherent law on customer data, recommends multiple measures to support development of fintech regulatory framework.
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