The IMF said the adoption of a cryptocurrency as legal tender entails "large risks" relating to financial stability, financial integrity, and consumer protection.
February 3, 2022The law empowers financial regulators to enforce standards of business conduct by financial entities and adjudicate on consumer complaints.
February 3, 2022Internet-only banks will be allowed to use a lower weight for existing household loans when calculating calculating loan-to-deposit ratios.
January 31, 2022The CBIRC warns consumers against marketing scams, illegal fundraising and fraud in the loans and insurance sectors.
January 28, 2022New BIS paper says consent-based data governance systems with low transaction costs are key to promoting the development of virtual banking worldwide.
January 28, 2022The FSS will push for the enactment of a so-called "Fintech Nurturing Act", which will ease restrictions on investment in fintech firms by financial companies.
January 24, 2022OJK says the taxonomy will enable the financial sector to classify green activities within their portfolios, facilitate monitoring of credit and investment flows into the green sector, and prevent greenwashing.
January 21, 2022The FSC will apply “same rules for same services” to ensure fair competition between bigtech firms and financial institutions.
January 18, 2022A BIS paper says platform-based business models can lower costs and aid financial inclusion, but they can also give rise to digital monopolies and oligopolies.
January 14, 2022Such a bureau would have its own authorisation and financing, and adopt the mandates of both the CFTC and SEC, said J. Christopher Giancarlo.
January 10, 2022