All posts tagged "payment services"
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1.0KAML / KYCSingapore Tightens Laws on Technology Risk, Crypto Assets
FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.
April 6, 2022 -
935Crypto / Digital AssetsMAS Guidance on Stablecoins Set to Impact Crypto Firms
Stablecoins must be treated as DPTs rather than e-money. A new notice specifies a risk warning that must be provided to all customers of DPT services.
March 16, 2022 -
762AML / KYCBangladesh Revises Rules on Mobile Financial Services
The revised regulations allow financial institutions other than banks, as well as government entities, to provide mobile financial services.
February 18, 2022 -
466Crypto / Digital AssetsMAS 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 -
620Asia-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 -
456EnforcementMAS 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 -
346ChinaPayPal 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 -
799AML / 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
