Fintech / Regtech

AML / KYC

Singapore Tightens Laws on Technology Risk, Crypto Assets

By Sanday Chongo Kabange | 06/04/2022

FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.

Fintech / Regtech

PBOC to Expand CBDC Pilot to Additional Chinese Cities

By Editors | 05/04/2022

The e-CNY has been tested in ten cities. The PBOC will extend the pilot to additional cities including Hangzhou, which will host the Asian Games in September.

Fintech / Regtech

Australian Banks Get More Time for Joint Account Data Sharing

By Editors | 05/04/2022

Non‑major Australian banks are being given an additional three months to commence sharing of joint account data.

Fintech / Regtech

EU Lawmakers Vote to Adopt KYC Rules for Unhosted Crypto Wallets

By Darien Choong | 04/04/2022

The European Parliament voted to adopt requirements for crypto firms to gather and verify personally identifiable information of users of unhosted crypto wallets.

Fintech / Regtech

Visa, Western Union, GBBC Join Digital Dollar Project

By Editors | 03/04/2022

The new members were announced just weeks after President Joe Biden signed an executive order outlining a “whole-of-government approach” to evaluate digital assets including a CBDC.

AML / KYC

The Future of AML Auditing is Increasingly Digital

By Claus Christensen | 03/04/2022

A shift to digital-first AML auditing and more open communications will improve efficiency and effectiveness for regulators and regulated entities alike, writes Claus Christensen.

Fintech / Regtech

FCA Allows Crypto Firms to Continue Under Temporary Registration

By Editors | 03/04/2022

Though the deadline has passed, six cryptoasset firms with temporary registration can still continue to operate under temporary registration.

Crypto / Digital Assets

India Passes Legislation to Implement 30pc Crypto Tax

By Editors | 01/04/2022

Traders will not be able to offset losses against profits. A 1 percent tax will also be deducted at source for trading over INR 50,000 in a year.

Fintech / Regtech

APRA Sets Out Roadmap for Full Transition to APRA Connect

By Editors | 01/04/2022

APRA says it will receive all data collections through APRA Connect by 2027, and regulated entities should prepare by exploring automation opportunities.