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Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.
Data Privacy
Australia Considers Opening ‘Write’ Access Under Open Banking
By Editors | 24/01/2020
The government will consider expanding the consumer data right to allow ‘write’ access by entities other than banks, similar to how the EU’s PSD2 operates.
Anti-Money Laundering
Singapore, Brunei Central Banks to Expand Cooperation
By Editors | 23/01/2020
MAS and AMBD have committed to new areas of cooperation, including financial sector development, cross-border supervision, crisis management and AML/CFT.
CBDCs
HKMA, BOT Announce Outcomes of Joint CBDC Research
By Editors | 23/01/2020
In 3Q 2019, eight Thai banks and two Hong Kong banks (HSBC and ZA Bank) participated in a THB-HKD cross-border corridor network PoC using a CBDC.
Structural Regulation
Trade Deal to Enable Early Entry of US Firms to China
By Manesh Samtani | 16/01/2020
Under the agreement, the December timeline for China’s removal of foreign ownership limits in the securities sector is brought forward to April.
Payments & Settlements
Malaysia to Boost Digital Payments with $110m Giveaway
By Editors | 15/01/2020
Every Malaysian aged 18 years and above, and earning less than 100,000 ringgit a year, is eligible to receive a one-off 30 ringgit through one of three e-wallet companies.
Payments & Settlements
RBI Amends Penalties Framework for Payments System Operators
By Editors | 14/01/2020
The new penalty for violations will be capped at 500,000 rupees, or double the amount of contravention, whichever is higher.
Structural Regulation
Singapore Fintech Awarded Philippine Licence to Operate Digital Bank
By Editors | 14/01/2020
TONIK Digital Bank will be the first “pure-play” digital bank in Southeast Asia, focusing on retail deposits and consumer loans.
Structural Regulation
Malaysia Joins Digital Banking Revolution with Exposure Draft
By Natalie Curtis | 14/01/2020
Herbert Smith Freehills breaks down Malaysia’s new framework for digital banks, comparing the regime to those in Singapore and Hong Kong.
Tokenisation
QME to Leverage Blockchain to Standardise Warehouse Receipts
By Editors | 13/01/2020
HKEX’s Qianhai Mercantile Exchange will use blockchain tech from Ant Financial to provide verifiable warehouse receipts which will help commodities businesses to obtain financing.
Payments & Settlements
Amex Closer to Entering China Bank Card Market – Report
By Editors | 13/01/2020
The latest approval comes over two years after Amex was approved to start preparing a joint venture business with local partner LianLian.
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