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Enforcement
Alipay Fined for Customer Rights, Data Protection Failures
By Editors | 12/04/2018
The company did not ensure customers had sufficient product information, failed to comply with rules on customer data, included misleading information in ads.
AML / KYC
Japan Proposes Regulatory Framework to Legalise ICOs
By Manesh Samtani | 09/04/2018
Government-backed research group proposes rules for identifying investors, preventing money laundering and protecting equity and debt holders.
Crypto / Digital Assets
India Bars Banks from Cryptocurrency Dealings
By Manesh Samtani | 07/04/2018
Reports suggest banks will have three months to comply; central bank meanwhile explores feasibility of state-backed digital currency.
Fintech / Regtech
GFMA Publishes Common Approach for Cyber Penetration Testing
By Manesh Samtani | 05/04/2018
New penetration testing framework establishes process for industry-wide cross-jurisdictional coordination on development and use of existing frameworks.
AML / KYC
New Rules for Australian Crypto Exchanges Take Effect
By Manesh Samtani | 05/04/2018
Exchanges must register with AUSTRAC, adopt AML/CTF programme, verify customer identities, report suspicious transactions, maintain seven years of records.
Fintech / Regtech
Philippines to Strengthen Supervision Through Regtech
By Editors | 05/04/2018
BSP to adopt regtech solutions including API for electronic data submissions by FIs, chatbot for complaints to the regulator.
Fintech / Regtech
MAS Guidance on AI, Data Analytics In The Works
By Editors | 04/04/2018
Key financial industry stakeholders to co-create guide setting out key principles, best practices to strengthen governance, reduce data misuse risks.
Crypto / Digital Assets
Report Suggests China May Support Global Crypto Regulation
By Manesh Samtani | 03/04/2018
PBOC’s Institute of International Finance says China would actively participate in a G20-led effort to establish a global regulatory framework.
Crypto / Digital Assets
Thailand Finalises Cryptocurrency Tax Framework
By Manesh Samtani | 30/03/2018
Cryptocurrency trades to be subject to 7 percent value added tax and 15 percent capital gains tax; fintech association chair says move may drive startups overseas.
Fintech / Regtech
SFC Issues Robo-advice Guidelines
By Samuel Riding | 29/03/2018
Robo-advice platforms should explain how their underlying algorithms operate, ensure regular testing to ensure they remain fit for purpose.
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