All posts tagged "payment services"
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378EnforcementMAS Orders Halt to Singapore Services From Binance.com
Binance Asia Services, which operates Binance.sg, is a "distinct entity" and may still operate under an exemption while its licence application is under review.
September 6, 2021 -
441Asia-PacificBank Indonesia Issues Framework for Open Banking
Under the framework, 16 banks and payment service providers will be required to adopt open API systems by June 2022.
August 27, 2021 -
340EnforcementMAS Proposes to Enhance Investigative, Supervision Powers
New powers will allow MAS to issue legally-binding directions to FIs in relation to unregulated business in bitcoin futures and other payment token derivatives traded on overseas exchanges.
July 5, 2021 -
291ChinaPayPal Acquires Full Control of China Payments Business
PayPal is the first foreign firm to own a 100% stake in a payment platform in China, having obtained a licence to operate in the country a year ago.
January 14, 2021 -
757AML / KYCChinese Police Target Offshore Gambling via E-Commerce Platforms
Chinese police say at least $2bn has been laundered to offshore gambling sites through fake e-commerce purchases and other methods.
September 17, 2020 -
1.8KAML / KYCSingapore Crypto Association Publishes Industry Code of Practice
The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.
August 18, 2020 -
1.6KFintech / RegtechFSC Korea to Overhaul Digital Finance Regulations – Report
Mobile payment service providers will be allowed to offer deferred payment services, issue payment accounts to users, and enable larger transaction limits.
July 27, 2020 -
804Big PictureCBDCs Could Amount to ‘Sea Change’ for Payments: BIS
Covid-19 has highlighted unequal access to payment services for low-income and vulnerable groups. CBDCs present an opportunity to address this shortcoming.
June 25, 2020 -
1.0KChinaPBOC Issues Record Penalty Against Payments Firm
Allscore Payment Service was also found to have providing services for illegal gambling websites, embezzled customer funds and misappropriated reserve funds.
May 10, 2020 -
1.9KAML / KYCMAS Adopts FATF Standards on VASPs in Payment Services Act
MAS has proposed amendments will align the Payment Services Act with the most recent enhancements to the FATF Standards in relation to virtual asset service providers.
December 28, 2019
