Fintech / Regtech

The joint initiative will seek to accelerate the development of privacy-preserving federated learning solutions that can help to combat financial crime.

Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.

The FATF also commends the UK for progress made to expand its FIU's ability to conduct operational analysis.

The government will also continue a consultation process started by Josh Frydenberg on a regulatory framework for the crypto sector.

Allowing credit cards to link with the UPI will provide consumers more payment options and greater convenience, the RBI said.

Mutual recognition of digital identity credentials is part of an agreement to cooperate on the digital transformation of government services.

A CBDC is needed to facilitate the growth of digital transactions and encourage startups and e-commerce businesses, the finance minister said.

Kanv Pandit highlights the need for a 'metacode of conduct' to protect metaverse users from loss and fraud until regulation catches up.

UK and Japan participants agreed to establish an innovation working group to provide a space for collaboration on payments, cryptoassets and financial innovation.

The report offers guidance on the use of technology for investigations, risk assessment, and AML/CFT information exchange.