Fintech / Regtech

India's Prime Minister Narendra Modi on 14 November at Singapore Fintech Festival announced the launch of APIX, an online marketplace and sandbox for cross-border fintech services.

The regulator wants to streamline the application and approval process for regulated activities where risks are generally low or well understood and could be reasonably contained.

The regulator is looking to set up private cloud infrastructure to enhance its analytical capabilities for better surveillance and investigations.

SGX and a Temasek unit have invested in a new platform that is seeking MAS licensing to enable fundraising in Singapore through security token offerings.

MAS managing director Ravi Menon announced the release of the Fairness, Ethics, Accountability & Transparency, or FEAT, Principles at the Singapore Fintech Festival.

MAS and SGX have developed delivery versus payment capabilities for the settlement of tokenised assets across different blockchain platforms, which they say can help simplify post-trade processes and further shorten settlement cycles in capital markets.

Thailand will use blockchain and machine learning to crack down on tax evasion, according to director-general of the tax department, Ekniti Nitithanprapas.

New regulation could lead to industry consolidation and greater institutional money, said panellists at ASIFMA’s annual conference in Singapore.

Measures include new regulatory framework for cryptocurrencies, and a new fund to be invested via ECF and P2P platforms alongside private investors, among others.

Taiwan has amended its AML/CFT laws, forbidding anonymous cryptocurrency transactions and empowering the FSC to take action against noncompliant platform operators.