Fintech / Regtech

Douglas Arner explains how Bitcoin, Libra, China's digital currency project, and Covid-19 have each played a role in catalysing what will be a fundamental reorientation of monetary and payment systems.

These applicants assessed as eligible will progress to the next stage of assessment, where they will be invited to present their proposals via virtual meetings.

The BOK has formed a legal advisory group comprising internal and external experts to discuss the legal and regulatory issues surrounding a central bank digital currency.

Market commentators believe that a recent Supreme Court decision has prompted the government to work towards a new regulatory approach, rather than an outright ban.

SMEs will be allowed to raise funds through crowdfunding platforms, and the capital raising limit will be raised, among other enhancements to the existing framework.

The HKMA outlines four regtech use cases that support the effective implementation of AML/CFT measures at Hong Kong banks.

The measures include continued support for businesses and individuals, with some focus being diverted back to pre-Covid policy work to support innovation and data-driven initiatives.

The CSA sandbox allows firms to obtain exemptive relief from securities law requirements to test new products and services in the Canadian market on a time-limited basis.

The FSS is considering conducting reviews of some 40 fintech companies after eight unauthorised transactions were detected on Viva Republica's payments platform Toss.

Guangdong police have reportedly frozen about 4,000 bank accounts belonging to cryptocurrency traders in a crackdown on illicit activities.