Fintech / Regtech

    Fintech / Regtech

    ‘Substantial Changes” Needed to Fully Reap Benefits of DeFi: BIS

    By Sanday Chongo Kabange | 19/06/2022

    A new BIS bulletin highlights a growing trend in DeFi to rely on forms of centralisation, and a need for it to ultimately fall within the regulatory umbrella.

    Fintech / Regtech

    BSP Upgrades Infrastructure to Support Big Data Applications

    By Editors | 16/06/2022

    The BSP plans to start using big data sources and applications in 2023, starting with an index that will analyse online news to gauge the sentiment.

    Enforcement

    US SEC Penalises Schwab Over Robo-Adviser Disclosures

    By Editors | 16/06/2022

    High cash balances resulted in lower returns for robo-adviser clients.  The effect of this “cash drag” was not disclosed to clients, the SEC said.

    AML / KYC

    Singapore Trade Finance Registry to Go Live in Q4

    By Editors | 16/06/2022

    The Association of Banks in Singapore has selected MonetaGo and GUUD to deliver a registry that will prevent duplicate financing and fraud.

    Big Picture

    HKIMR Explores Pandemic Lessons for Operational Resilience

    By Editors | 16/06/2022

    Effective implementation of business continuity plans was a key factor contributing to operational resilience, says new report.

    AML / KYC

    US, UK to Jointly Promote Privacy-Enhancing Tech for AML

    By Editors | 15/06/2022

    The joint initiative will seek to accelerate the development of privacy-preserving federated learning solutions that can help to combat financial crime.

    AML / KYC

    Russia Launches Blockchain-Based Alternative to SWIFT

    By Editors | 14/06/2022

    Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.

    AML / KYC

    FATF Re-rates UK for Progress on Correspondent Banking

    By Editors | 14/06/2022

    The FATF also commends the UK for progress made to expand its FIU’s ability to conduct operational analysis.

    Crypto / Digital Assets

    Australia: New Govt to Push Ahead with BNPL, Crypto Regulation

    By Editors | 14/06/2022

    The government will also continue a consultation process started by Josh Frydenberg on a regulatory framework for the crypto sector.

    Fintech / Regtech

    RBI to Allow Credit Cards to Link to UPI System

    By Editors | 14/06/2022

    Allowing credit cards to link with the UPI will provide consumers more payment options and greater convenience, the RBI said.

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