regulation

With Regulatory Change, Korea’s Internet-only Banks to See Ownership Shift, New Players

South Korea’s internet-only banking sector is set to undergo a series of ownership changes and to see new market players, as a new regulatory change allowing nonfinancial institutions to own and operate online banks takes effect from Thursday.

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Regulations Hurt Vietnam Digital Payments Growth

Vietnam wants to be a cashless society, according to a report in Financial Times, but bank regulations are hindering the country’s ability to do so. The problem isn’t a lack of investment in the sector, or cash flow to grow market share for companies in the field – it’s the restrictive rules on e-wallets created […]

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It’s Time for Local Governments to Break Blockchain’s Regulatory Gridlock – CoinDesk

The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. It has been translated to English from Korean. Although there are issues with blockchain that need to be solved, there is a growing consensus about the technology’s great potential.

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PSD2 Is Coming — Are Merchants Ready?

From using instant messaging to getting directions and shopping online, consumers are constantly generating a trail of data about their preferences and whereabouts. However, while all that happens in the background, consumers are growing increasingly wary of how their data is collected and stored.

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BankThink How Regulators Besides the OCC Can Help Fintechs

More in The Office of the Comptroller of the Currency designed its fintech special-purpose national bank charter proposal with the best of intentions: to foster innovation in banking and economic growth, and provide alternatives for financial technology startups burdened by operating nationally under 50 different state regulatory regimes.

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Singapore Introduces Regulatory Framework for Crypto Payment Services

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has finalized new regulatory framework for payment service providers in Singapore. The new regulation allows payment service providers that are licenced under the regime to support certain cryptocurrencies in their services.

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Australian Banks Don’t Want Regulation Overhaul

Australia’s major banks aren’t in support of an overhaul to the new Banking Code of Practice. According to Smart Company, Commonwealth Bank, Westpac, NAB and ANZ announced this week that they are in agreement that consumer credit protection laws shouldn’t be extended to cover small business (SMB) lending.

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CBI Calls for Fresh Regulatory Approach to Help Banks Deal With Tech Revolution

The Confederation of British Industry is calling for a tax and regulation revamp to help financial services firms deal with the challenges and opportunities presented by a rapidly changing technological landscape. With over 1.

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The Challenges of Cryptocurrency Regulation

Volatile cryptocurrencies require regulation, but regulators face many questions about how to do so. History may not repeat itself, but it clearly does rhyme. During the dot-com bubble, Board of Governors of the Federal Reserve System Chairman Alan Greenspan famously observed that investors were the victims of irrational exuberance.

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Wall Street, Venture Capitalists and Crypto Companies Descend on Capitol Hill to Debate Regulation

Nearly 50 representatives from U.S. financial giants and cryptocurrency startups are set to meet with Washington lawmakers this week to talk through what some say is an incomplete, and murky regulatory landscape. Rep.

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OCC’s Otting: Why Do State Regulators Want to Limit Consumer Choice?

The decision by the Office of the Comptroller of the Currency to begin accepting applications for special purpose national bank charters from fintech companies promotes innovation, gives consumers and businesses greater choice and creates economic growth and opportunity.

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Why Reg Relief Is Moving in the Right Direction

Recent steps by the Congress and the Treasury, Federal Reserve Board, Comptroller of the Currency and the Federal Deposit Insurance Corp. suggest a welcome departure from the trend of one-size-fits-all rules – and a return to principles-based regulation anchored in regulatory common sense and sound financial judgment.

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