All posts tagged "Payments"
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286ChinaTrade Deal to Enable Early Entry of US Firms to China
Under the agreement, the December timeline for China's removal of foreign ownership limits in the securities sector is brought forward to April.
January 16, 2020 -
130Fintech / RegtechRBI Amends Penalties Framework for Payments System Operators
The new penalty for violations will be capped at 500,000 rupees, or double the amount of contravention, whichever is higher.
January 14, 2020 -
509AML / KYCBangladesh Introduces e-KYC for All Financial Services Firms
All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.
January 14, 2020 -
436Australia & NZDemand for Stablecoin, CBDC Not Yet Established: RBA
A retail CBDC could ultimately hurt commercial banks, as it would translate to a fall in deposits and a reduction in the availability of funds for lending to households and businesses, the RBA says.
January 13, 2020 -
417Asia-PacificVietnam Central Bank Sets Out 2020 Policy Tasks
The key policy tasks for the year include reducing banking sector NPLs to below 2% and promoting the use of non-cash payments.
January 10, 2020 -
199ChinaPBOC Reverses No Interest Policy for Payments Companies – Report
The PBOC will pay just 0.35% annually on customer money that payments firms hold with the central bank, but the move marks a reversal of an earlier decision to pay no interest.
January 10, 2020 -
354Fintech / RegtechIndia’s NPCI Unveils DLT Based Platform to Further Streamline Payments
The Vajra Platform will enhance data security and transparency, facilitate real-time transactions and reduce reconciliation challenges and processing errors, the NPCI said.
January 7, 2020 -
1.2KAML / KYCMalaysia Replaces AML/CFT Framework with Two Policy Documents
The first document is for banks, insurers, money services businesses and payments providers. The second is for NBFIs and DNFBPs, including lawyers, accountants, casinos, real estate agents and trust companies.
January 3, 2020 -
850AML / 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 -
513FeatureMAS Consults on Application of Payment Services Act to Stablecoins
MAS seeks views on whether stablecoin holders deserve the same regulatory protections as e-money, and whether other regulations should be introduced to maintain price stability.
December 26, 2019
