Fintech / Regtech

Ripple chief says technology can speed up cross-border transactions from days to second, save banks trillions in collateral held against settlement risks.

Consultation suggests it could take just six months for banks to develop APIs including their product and service information.

Eligible public companies can raise up to AUD 5 million in funds through equity crowdfunding and will face fewer regulatory requirements for fundraising.

Korea carries out bank inspections, China power cut on Bitcoin miners, Japan scrutinises banks' cryptocurrency activities.

Deputy prime minister says no major AML lapses have been found at Singapore banks when asked about ‘Russian Laundromat’ probe.

FSA's move towards ‘dynamic supervision’ includes scrapping inspection manuals, restructuring governance, internal structure and HR policy.

Exchanges to be recognised by central bank once regulations are in place; draft guidelines on reporting obligations to come into force early 2018.

Tech firms will need to pass an assessment for FSC approval to use the sandbox and gain exemptions from certain regulations.

Although foreign software costs more and regulatory change cannot be adopted instantly, banks prefer them for their functionality and flexibility.

Securities Commission invites proposals from parties interested in participating in regulatory sandbox sessions under its innovation lab.