Fintech / Regtech

AML / KYC

S. Korea Announces Revised Tax Bill

By Editors | 06/08/2018

Bill expands crackdown on tax evasion, ends derivatives tax exemptions, disqualifies crypto exchanges as SMEs for tax reductions.

Fintech / Regtech

China’s Ant Financial and WeBank – ‘Too Big to Regulate’

By Peter Guy | 02/08/2018

The Chinese government has allowed unregulated online participants to innovate and grow in a sector traditionally dominated by state banks. Systemic risk has increased by not imposing strict and comprehensive regulatory regimes.

Fintech / Regtech

New Phase of India’s Digital Payments Platform Likely in Mid-August

By Garima Chitkara | 02/08/2018

UPI 2.0 to be released in mid-August will include new features like inward remittances and overdraft facilities. It will exclude a recurring payments feature present in the current platform.

Fintech / Regtech

Chinese Bank Trials Blockchain-based Loan Issuance

By Emma Zhou | 01/08/2018

Agricultural Bank of China has issued a ¥2mn loan backed by farmland from a Guizhou province branch; new system speeds up loan issuances and prevents fraud.

Fintech / Regtech

Japan’s Line Corp to Set Up Digital Bank in Taiwan

By Editors | 30/07/2018

‘Line Bank’ will be set up in partnership with up to five local partners to take deposits, provide loans, and sell mutual funds and insurance policies.

Fintech / Regtech

China P2P Lending Sector Survival Relies on Better Regulation

By Peter Guy | 26/07/2018

P2P platform failures due to liquidity shortfalls have crippled a key source of retail credit for consumers and small businesses. The future of P2P lending in China. Regulators need to play a more dominant role in this growing and unruly industry to assure its survival.

AML / KYC

Crypto a Key Focus of FATF Report to G20

By Manesh Samtani | 26/07/2018

FATF is actively monitoring crypto assets for AML/CTF risks and is reviewing its guidance and standards to determine if changes are needed to reflect their technical aspects.

Fintech / Regtech

S. Korea’s FSC Vows to Support Growth of Fintech Sector

By Mark Pufpaff | 26/07/2018

Discussions are underway concerning a revision of South Korea’s Banking Act to nurture growth within the fintech industry, including a proposal to allow non-financial firms to hold up to 50% stakes in banks, including internet-only banks.

Fintech / Regtech

Shariah Fintech – A Case Study of Indonesia

By Sharifah Nursyafiqah | 25/07/2018

Better support and regulation for Shariah-compliant fintech will serve to boost the Islamic finance industry, increasing the share of Islamic banks in Indonesia’s financial services sector and ultimately making it more competitive.