Regulatory Updates

October 22, 2024

The fintech revolution is advancing at an unprecedented pace, reshaping the global financial landscape. Innovations such as digital payments, blockchain, AI, machine learning and decentralized finance (DeFi) are transforming financial services, making them more efficient, accessible and user-friendly. However, this progress presents significant regulatory challenges that must be addressed to ensure a stable and secure

October 22, 2024

Free newsletter Get the latest Fintech Singapore news delivered to your inbox once a month Thailand's Securities and Exchange Commission (SEC) has announced upcoming regulatory changes regarding the use of digital asset payments. Starting September 6, restrictions on the use of digital assets as a means of payment will be eased and digital asset businesses

October 18, 2024

In 2023, the global regulatory landscape revealed a startling revelation: fines imposed by authorities exceeded a colossal $10.5 billion. This figure not only reflects stringent enforcement measures, but also highlights new areas of regulatory oversight. This conclusion comes from the latest quarterly application data report for 2023 from CorlyticsA regulatory risk monitoring platform. The EU,

October 17, 2024

Regulators stepped up their enforcement actions during the third quarter of 2024, setting unprecedented records in the number and scale of sanctions, according to a report from a global regulatory intelligence firm. Corlytics. Among these actions, the Commodity Futures Trading Commission's (CFTC) $12.7 billion ruling against FTX and Alameda stands out as a pivotal moment

October 17, 2024

The latest compliance news: regulatory developments, sanctions, advice, authorizations, new product and service offerings. 
 ABC Projektai, CJEU, LithuaniaThe Court of Justice of the European Union has ruled that ABC Projektai, a Lithuanian online payment company, can regain its banking license after it was revoked by the Bank of Lithuania. ABC Projektai, formerly called Bruc

October 14, 2024

THE financial technology The Indian sector has been facing a decline in funding since last year, mainly due to stricter government regulations. Scaling now comes at a cost for many companies in this segment. However, industry leaders and experts say it is important that the regulator does its job and that strengthening regulations is in

October 13, 2024

In each monthly edition of Summary of regulationsTony Sio, Head of Regulatory Strategy and Innovation at Nasdaq's Financial Technology Division, shares his views on the latest regulatory news and trends around the world. Subscribe to stay informed and compliant.

October 7, 2024

As the era of digitalized regulation approaches, debate is intensifying around the role of machine-readable and machine-enforceable regulation in the financial sector. According to Michael Thirer, legal director of Muinmosthe role of such technology could very easily expand beyond what its users could have imagined. He said: "In Greg Bear's classic science fiction novel, 'Blood

October 7, 2024

The Reserve Bank of India (RBI) on January 15 released a draft framework for a self-regulatory body for financial technology (fintech) companies. Fintech companies should establish a self-regulatory organization (SRO) that will ensure legal and regulatory compliance, the RBI said in the draft framework. An SRO aims to establish codes of conduct for its fintech

October 6, 2024

On 4 July 2024, the European Banking Authority (EBA) published new guidelines on the information requirements relating to transfers of funds and certain transfers of cryptoassets under Regulation (EU) 2023/1113 (the recast Regulation and Revised on Wire Transfers), also known as the “Travel Rules” Guidelines. The guidelines specify what information must accompany a transfer of

October 6, 2024

THE Reserve Bank of India Governor Shaktikanta Das said on Wednesday that the preferred approach to achieving a balance between innovation and prudent regulation involves self-regulation of the fintech sector. He said that India Fintech sector has attracted around $6 billion over the past two years. He also added that efforts were underway to ensure

October 5, 2024

A continuous review process is needed to identify regulatory gaps in the fintech sector and align it with global best practices, the economic study said. The focus should be on transitioning from judgment-based lending to data-driven lending, he said. “In the medium term, efforts should be made to move towards data-driven lending rather than judgment-based