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.
Read MoreAustralia’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.
Read MoreThe 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.
Read MoreVolatile 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.
Read MoreNearly 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.
Read MoreThe 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.
Read MoreRecent 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.
Read MoreDespite a Brussels-based think tank advising the European Union to adopt common rules for cryptocurrencies, a subsequent meeting of European finance ministers concluded that regulations could wait.
Read MoreAs blockchain becomes more mainstream in payments and financial services, trust and regulatory guidance need to improve. It would be hard to deny that we are in a bear market right now for cryptocurrencies after the wild rise experienced in 2017 – but this does not change the reality.
Read MoreIndustry observers are certain that Chinese investors will always find ways to circumvent increasingly tightening controls over cryptocurrency trading by mainland authorities, making it practically impossible to ever impose a complete shutdown on trading.
Read MoreJapan’s primary financial regulator has dramatically increased its screening process of applicants registering to open cryptocurrency exchanges, according to a local report.
Read MoreTwo significant changes to European Union regulations have given the FinTech industry a major shot in the arm and strengthened its position as a competitor to traditional banking, the result of which will be that U.S. banks will beforced to rethink their client strategies.
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