The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.
November 3, 2020The digital currency, known as Bakong, allows users to transfer money using a mobile app by scanning QR codes or inputting the recipient's phone number.
October 29, 2020The RBI has set a minimum net worth criteria of $35,000 for sandbox participants, half the amount specified in April’s draft.
August 14, 2019The RBI has fined prepaid payment instrument issuers, two US money transfer firms and Yes Bank for non-compliance with regulatory guidelines.
May 6, 2019Following two months of industry deliberation, the FSC has said the new open banking system will be piloted in October, and fully implemented in December.
April 17, 2019The ACCC and Australian police have brought charges against an alleged price-fixing cartel, which is said to have been directed by Vietnam's Sacombank.
April 12, 2019In a bid to improve remittance services in the country and promote fintech, Japan plans to ease limits on non-banks providing money transfer services.
February 21, 2019The law represents a framework to streamline payment services regulation in Singapore under a single legislation and bring payment activities under the remit of the MAS.
January 15, 2019