Information paper acknowledges improvements in the ability of regulated entities to manage cloud computing risks, while also detailing observed weaknesses and areas of concern.
The FSC said it plans to approve two more Internet-only banks next year, a day after a bill passes allowing non-financial firms to boost their ownership stakes in such banks.
About two-thirds of the stolen cryptocurrency belonged to customers of the exchange platform Zaif, which will receive a cash infusion from Fisco Digital Asset Group to help repay them.
Nine designated fintech firms will be allowed to provide services to customers for up to two years, testing their services as agents of partnering financial institutions.
Collaboration to focus on strengthening supervision, enhancing connectivity, cooperating on fintech and supporting the Belt and Road initiative.
Cooperation arrangement focuses on information sharing and facilitating referrals of fintech firms between Singapore and the US.
FSS governor told fintech firms the regulator is considering machine readable regulation and automated data analysis systems to better detect and investigate financial crimes.
Asia presents a unique mix of technological advancements and interconnected economic and regulatory systems, which makes it the perfect environment for rapid business growth for fintech/regtech companies with ambitious goals.
Testing phase of new platform deployed at financial institutions including BOC, CCB, CMB, Ping An and StanChart, in a bid to boost efficiency of trade and financing activities.
ASX deferred the earliest go-live date for new DLT-based system to target March-April 2021; will provide additional six months for user development and testing, industry testing and accreditation.