REGISTER

Governance

Source: Fintech Australia

FinTech Australia has released a new tool for early-stage fintechs and global fintechs expanding into Australia, offering clear guidance on financial services licensing in Australia and which government bodies are responsible for managing them.

Europe's top banking watchdog says regulatory authorities have little understanding of the risks involved in digital banking marketplaces, where banking products are offered alongside third party services.

The European Commission is to extend anti-money laundering rules to the entire crypto sector as part of a wider overhaul of financial crime safeguards.

Source: CFTC

Over the course of the conference you have heard others explain various developments in the evolution of bitcoin. Rather than repeat what you have already heard about the tremendous growth and noteworthy interest in bitcoin, my remarks instead will focus on the regulation of bitcoin. There are many federal and state regulators that also have an interest in bitcoin, as well as the entities that trade and custody bitcoin—among the most prominent at the federal level are the Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency (OCC), the Financial Crimes Enforcement Network (FinCEN), and the Commodity Futures Trading Commission (CFTC or Commission), where I have been privileged to serve as a Commissioner since 2018. Today, my focus is going to be on what we have been doing at the CFTC with respect to bitcoin and digital assets more generally.

The Bank of England has chided some banks and building societies for failing to supply accurate and reliable data to help regulators identify risks to the financial system.

Sweden's financial watchdog is investigating whether buy-now-pay-later (BNPL) fintech Klarna violated bank secrecy laws following a security breach in May.

Source: HKMA

The Hong Kong Monetary Authority (HKMA) today (25 March 2021) launched the “Global Regtech Challenge”, a competition designed to raise the Hong Kong banking industry’s awareness of the potential of Regtech adoption.

The central American nation today sets a world-first as it adopts the cryptocurrency for use across all goods and services – even taxes.

Source: FCA

The FCA has today set out plans for a new Consumer Duty, which will set a higher level of consumer protection in retail financial markets for firms to adhere to.

US regulators have made inquiries to Robinhood about the trading restrictions the app put on stocks such as GameStop during the Reddit-led rallies earlier this year.

Source: SETL

SETL, the London based blockchain company, today published a whitepaper on how to “Realise the Regulated Internet of Value” based on a multi-asset approach to tokenisation.

Source: European Commission

The Commission proposes today new rules and actions aiming to turn Europe into the global hub for trustworthy Artificial Intelligence (AI).

Source: Italian Banking Association

Shaping the Banking Union, refocussing on a fair regulatory approach towards the implementation of Basel III in the EU and adapting the treatment of non-performing loans (NPLs) in light of the current economic scenario, : these are the requests the Italian Banking Association (ABI) and the German Banking Industry Committee (GBIC) put forward in a document which calls on European institutions to adopt significant first and second level regulatory measures to counter the economic effects of Covid-19.

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