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Fintech / Regtech
Australia Passes Law Introducing New Rules for BNPL Services
By Thisanka Siripala | 02/12/2024
BNPL providers must adhere to requirements under the the National Consumer Credit Protection Act. ASIC will be tasked with regulating the sector.
Fintech / Regtech
FSC Korea Adjusts Criteria for Authorising Internet-only Banks
By Manesh Samtani | 02/12/2024
The FSC plans to add a statutory condition under the Banking Act that will allow it to suspend an internet-only bank’s operations if it cannot execute its business plan.
Sanctions
Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report
By Editors | 02/12/2024
The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.
Fintech / Regtech
UK Launches AI Security Research Lab to Defend Against Cyber Threats
By Thisanka Siripala | 02/12/2024
The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.
AML / KYC
Central Banks Offers Legal and System Design Lessons for Retail CBDC
By Manesh Samtani | 01/12/2024
Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.
Crypto / Digital Assets
HKMA Announces Launch of Digital Bond Grant Scheme
By Editors | 30/11/2024
The scheme offers grants of up to HK$2.5mn for each eligible digital bond issuance to promote bond tokenisation in Hong Kong.
Fintech / Regtech
Japan Report Calls for Urgent Action to Address Quantum Risks
By Thisanka Siripala | 30/11/2024
Japanese FIs should have quantum-resistant cryptographic algorithms within high-priority systems ready for use by the mid-2030s.
Fintech / Regtech
China Issues Action Plan for Further Developing Digital Finance
By Editors | 30/11/2024
FIs are directed to designate a leading department for digital transformation and improve the quality and efficiency of digital financial services.
Fintech / Regtech
HKUST Launches New GenAI Platform for Financial Sector
By Sanday Chongo Kabange | 29/11/2024
HKUST’s new InvestLM, designed to support the financial services industry, is available through the HKMA’s GenAI Sandbox.
Fintech / Regtech
New Association Launches in Hong Kong to Advance AI Adoption
By Sanday Chongo Kabange | 28/11/2024
The new association seeks to advance the development, adoption, commercialisation and use of AI across Hong Kong.
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