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Fintech / Regtech
Fintech / Regtech
Data Protection Rules in China: An Ongoing Cycle of Reinvention
By Jingyuan Shi | 21/12/2023
Jingyuan Shi discusses China’s changing rules on cross-border data transfer and examines the extra-territorial implications.
Crypto / Digital Assets
UK to Launch Digital Securities Sandbox on 8 Jan 2024
By Editors | 20/12/2023
The sandbox will allow FMIs to test the use of new technology including DLT to operate trading venues and perform CSD activities.
Fintech / Regtech
BSP Retains Moratorium on InstaPay and PESONet Fee Increases
By Sanday Chongo Kabange | 20/12/2023
The moratorium will remain in place as the BSP works to eliminate fees entirely for small e-payment transactions.
Fintech / Regtech
FSS Korea Targets Third-Party Risk Management With New Guidance
By Mark Johnston | 20/12/2023
The FSS has issued guidance to improve third-party risk management at firms that provide financial services electronically.
Fintech / Regtech
Japan, Cambodia Agree to Establish Cross-border QR Payment Link
By Editors | 19/12/2023
Japan’s METI and Cambodia’s central bank signed an MoC establishing a framework to cooperate on cross-border payment systems using QR Code technology.
AML / KYC
HKMA Fines SVF Licensee TNG for AML Compliance Failures
By Sanday Chongo Kabange | 19/12/2023
The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.
Crypto / Digital Assets
BOK Partners with LG Unit to Develop CBDC System
By Mark Johnston | 19/12/2023
The platform will enable authorities to jointly test the feasibility of a CBDC, which BOK governor Rhee Chang-yong says is ‘essential’ to the future of finance.
Fintech / Regtech
China Issues New Rules for Non-bank Payment Institutions
By Manesh Samtani | 19/12/2023
Regulators are imposing stricter licensing, business management, risk management and user protection rules on non-bank payment institutions.
AML / KYC
MAS Suspends Non-Bank, Non-Card Channels for China Remittances
By Editors | 19/12/2023
The move is a response to reports that remittances to China made by individuals in Singapore have been subsequently frozen by mainland law enforcement agencies.
Fintech / Regtech
BNM Sets Regulatory Requirements for BNPL Products
By Manesh Samtani | 17/12/2023
The policy prohibits “pre-approved” BNPL credit, requires affordability assessments to be performed, and limits the fees that can be charged.
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