Fintech / Regtech

Draft rules propose issuers undergo initial assessment to determine if ICO tokens are securities; security tokens must be registered with the SEC and proceeds must be maintained in escrow.

FSS is advocating for regulatory agencies and private companies to work together to enable stock trading through blockchain, noting progress in the US, UK, Japan and Australia to move forward on the technology.

Bill expands crackdown on tax evasion, ends derivatives tax exemptions, disqualifies crypto exchanges as SMEs for tax reductions.

The Chinese government has allowed unregulated online participants to innovate and grow in a sector traditionally dominated by state banks. Systemic risk has increased by not imposing strict and comprehensive regulatory regimes.

UPI 2.0 to be released in mid-August will include new features like inward remittances and overdraft facilities. It will exclude a recurring payments feature present in the current platform.

Agricultural Bank of China has issued a ¥2mn loan backed by farmland from a Guizhou province branch; new system speeds up loan issuances and prevents fraud.

'Line Bank' will be set up in partnership with up to five local partners to take deposits, provide loans, and sell mutual funds and insurance policies.

P2P platform failures due to liquidity shortfalls have crippled a key source of retail credit for consumers and small businesses. The future of P2P lending in China. Regulators need to play a more dominant role in this growing and unruly...

FATF is actively monitoring crypto assets for AML/CTF risks and is reviewing its guidance and standards to determine if changes are needed to reflect their technical aspects.

Discussions are underway concerning a revision of South Korea’s Banking Act to nurture growth within the fintech industry, including a proposal to allow non-financial firms to hold up to 50% stakes in banks, including internet-only banks.