Fintech / Regtech

AML / KYC

MAS Adopts FATF Standards on VASPs in Payment Services Act

By Manesh Samtani | 28/12/2019

MAS has proposed amendments will align the Payment Services Act with the most recent enhancements to the FATF Standards in relation to virtual asset service providers.

Fintech / Regtech

RBI Caps Lenders’ Exposures to P2P Platform Borrowers

By Editors | 28/12/2019

The RBI has set a 5mn rupee cap on the aggregate exposure a lender can have to borrowers on P2P lending platforms, and a 1mn rupee cap for lenders with a net worth under 5mn rupees.

AML / KYC

BOJ Releases Summary Report on CBDC Legal Issues

By Editors | 27/12/2019

In light of the potential legal issues that may arise from a CBDC issuance by the Bank of Japan, more detailed discussion is needed.

Fintech / Regtech

HKMA Publishes Highlights from First AML/CFT RegTech Forum

By Manesh Samtani | 27/12/2019

Access to quality data and a more proactive knowledge sharing approach are critical to moving to intelligence-led methods in financial crime risk management.

Crypto / Digital Assets

MAS Consults on Application of Payment Services Act to Stablecoins

By Manesh Samtani | 26/12/2019

MAS seeks views on whether stablecoin holders deserve the same regulatory protections as e-money, and whether other regulations should be introduced to maintain price stability.

Fintech / Regtech

ASIC Publishes Findings from 2019 Regtech Initiatives

By Editors | 25/12/2019

Participants said the exponential growth in data volume means the financial services industry must consider implementing regtech as an ‘imperative’ to undertake risk management and compliance functions.

Fintech / Regtech

HKMA Publishes Report on AI Adoption by Hong Kong Banks

By Manesh Samtani | 24/12/2019

The lack of employees with AI expertise was cited by 70% of respondents as the top barrier to AI adoption, according to a survey.

AML / KYC

FSC Korea Enables Online Account Opening for Foreigners

By Editors | 24/12/2019

The FSC will allow non-face-to-face account opening by foreigners residing in Korea, and by legal representatives of corporations.

Fintech / Regtech

ICMA Publishes DLT Regulatory Directory and Brief

By Editors | 23/12/2019

The directory and brief seek to provide a non-exhaustive overview of recent DLT regulatory guidance, legislative initiatives, strategy papers and other publications in selected jurisdictions.