Fintech / Regtech

    Enforcement

    Japan FSA Orders Suspension of SBI Social Lending Unit

    By Editors | 14/06/2021

    SBI Social Lending Co solicited funds from investors with false or misleading information in lending agreements.

    AML / KYC

    UOB Pilots Digital Signing Capability via SingPass

    By Editors | 14/06/2021

    UOB is testing the use of GovTech’s ‘Sign with Singpass’ to allow a set of retail and corporate customers to confirm transactions and product applications.

    Fintech / Regtech

    El Salvador Becomes First Country to Allow Bitcoin as Legal Tender

    By Editors | 13/06/2021

    El Salvador president Nayib Bukele is inviting bitcoin miners to set up at a state-owned geothermal facility powered by a volcano.

    Fintech / Regtech

    BIS, BOE Launch Innovation Hub London Centre

    By Editors | 12/06/2021

    The launch is part of a plan to expand the global reach of the BIS Innovation Hub, which includes the opening of Centres in Toronto, Frankfurt, Paris and Stockholm.

    Crypto / Digital Assets

    Task Force Created to Align Digital Token Identifier With ISIN

    By Editors | 12/06/2021

    The task force is a joint collaboration between Etrading Software, the registration authority for the new ISO standard for DTIs, and ANNA.

    Fintech / Regtech

    FSC Korea Grants Preliminary Approval to ‘Kakao Insurance’

    By Sanday Chongo Kabange | 11/06/2021

    This first time the FSC has granted approval for digital insurance business to a new entrant that is not already an insurer.

    Capital / Liquidity

    BCBS Consults on Prudential Treatment of Cryptoasset Exposures

    By Manesh Samtani | 11/06/2021

    Bitcoin and other “Group 2 cryptoassets” will be subject to a 1250% risk weight to avoid exposing bank depositors and creditors to a loss.

    Fintech / Regtech

    French, Swiss Central banks Partner to Test Wholesale CBDC

    By Sanday Chongo Kabange | 11/06/2021

    Project Jura will investigate the potential benefits and challenges of wCBDC in settling cross-border payments.

    Big Picture

    WEF Publishes ‘Policy-maker Toolkit’ for Decentralised Finance

    By Sanday Chongo Kabange | 10/06/2021

    The report offers a range of policy actions that can be adopted for DeFi, ranging from the introduction of new licence types and imposing prohibitive measures to doing nothing at all.

    Fintech / Regtech

    FSC Korea Grants Toss Bank Final Approval to Operate as Digital Bank

    By Manesh Samtani | 10/06/2021

    With the final approval, Toss Bank will officially launch as early as September, making it the third internet-only bank in the country.

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