PYMNTS

JULY 27, 2018

The move to block the ETF came down to a 3-1 vote of sitting commissioners, with Commissioner Hester Peirce a dissenting vote. The SEC had blocked the ETF last year — the ruling was then appealed by CBOE’s Bats exchange , which wanted to list the ETF, reported Reuters.

Blocks 41

Blocks Bitcoin Laws Rules 41

PYMNTS

OCTOBER 11, 2020

European Union (EU) regulators are drawing up a list of up to 20 large internet companies, possibly including Facebook and Apple, to be targeted with far more strict regulations in the future to limit their market power, according to a report from the Financial Times (FT). headquarters in Silicon Valley.

Regulations 125

Regulations Rules Blocks Legal 125

PYMNTS

APRIL 25, 2019

With concerns that a merger between Asda and Sainsbury’s would raise prices for shoppers, the arrangement has been blocked by the competition watchdog in the United Kingdom. At the time, it was reported that the ruling was widely criticized by some as out of touch with the needs of the retail landscape. billion deal.

Blocks 40

Blocks Authorization Rules Regulations 40

PYMNTS

JULY 7, 2019

Are new bitcoin rules coming? regulators and politicians increase their focus on Big Tech and associated areas, with recent hearings targeting Facebook and Google. Even so, “regulation remains a stumbling block to cryptocurrency’s wider adoption. It is part of a broader push to boost the nascent cryptocurrency industry.”

Regulations 51

Regulations Legal Framework Cryptocurrency Bitcoin 51

Fintech News

JUNE 12, 2024

To make multilateral payment platforms work well, there need to be clear rules and ways for different systems to work together. As multilateral platforms scale, the governance framework must evolve to keep up with changes in board participation, voting rules, regional representation, and economic models.

Cross-Border Payments 91

Cross-Border Payments Cross-Border Interoperability Payments 91

PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report.

Blocks 60

Blocks Federal Trade Commission FTC Accreditation 60

PYMNTS

FEBRUARY 21, 2019

This week, the EU Parliament voted for new rules mandating that banks cut fees on cross-border euro payments for countries within and outside the Eurozone. As reported by parliament, the body voted by 532 in favor and 22 against (with 55 abstentions) to set the new cross-border rules in place by the end of the year.

Cross-Border 76

Cross-Border Cross-Border Payments Real Time Gross Settlement (RTGS) Rules 76

PYMNTS

JUNE 20, 2018

Peer-to-peer car-sharing services might soon face the same regulation as traditional car rental companies. This month, for example, Maryland passed a bill that requires car-sharing companies to comply with regulations similar to rules for car rental companies, including paying sales tax.

P2P 40

P2P Regulations Void Rules 40

Fintech News

JULY 24, 2024

2 – Circumventing Regulatory Procedures Fintech companies have a great temptation to bypass regulation. The Indian regulator RBI allows several lending schemes, the main one being the First Loan Default Guarantee which covers only 5% risk. RBI is trying to prevent fintechs from working with the high-risk segment.

Non-Bank 87

Non-Bank Risk Regulations FinTech 87

PYMNTS

JULY 31, 2019

The Block reported that the comprehensive overview is expected to follow FCA’s draft proposals released at the beginning of the year, which explained that “any token that is not a security token, or an eMoney token is unregulated.” The Financial Conduct Authority (FCA) has issued updated guidance on the U.K.’s s cryptocurrency market.

Stablecoins 75

Stablecoins Regulations Financial Crimes Crime 75

PYMNTS

SEPTEMBER 27, 2017

Facebook faces orders from the Russian Federation to comply with an internet regulation law that orders the company to store Russians’ personal data on Russian servers. If Facebook does not comply, the Russian government will block the social media website next year. There can’t be any exceptions here.”.

Blocks 41

Blocks Laws Government Governance 41

PYMNTS

NOVEMBER 25, 2020

Digital assets are reportedly seen as commodities and ruled by securities law in the country following an order on the topic earlier in the fall. The Giving Block has reportedly locked down collaborations with more than 120 charities and 30 blockchain firms to lead the occasion.

Bitcoin 110

Bitcoin Blockchain Digital Currency Blocks 110

PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. It remains to be seen if COVID-19 will have any effect on future developments of this rule.

Privacy 79

Privacy CCPA Rules Regulations 79

PYMNTS

APRIL 1, 2020

Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. In our view, this required a legal floor of responsibility, governed by the rule of law,” Smith said.

Laws 121

Laws Law Enforcement Government Governance 121

PYMNTS

OCTOBER 26, 2018

state bank regulators said it filed a complaint in the U.S. But legal hurdles have caused some FinTechs to approach the charters cautiously, reports said, while they wait for greater clarity and certainty on the rules. Reports in Reuters on Thursday (Oct. The body of U.S.

Office of the Comptroller of the Currency 62

Office of the Comptroller of the Currency OCC Regs Blocks 62

PYMNTS

AUGUST 9, 2018

10), but will now have the additional time to continue to shape rules pertaining to the internet as the market in India takes off. Reuters noted that Sharma took on Facebook and Apple , helping to shape rules that prevent internet service providers from charging different prices for accessing different parts of the internet.

Regulations 40

Regulations Blocks Government Governance 40

Neopay

NOVEMBER 27, 2023

In the US, the Consumer Financial Protection Bureau published a proposed rule that would see non-bank financial companies that handle more than five million transactions per year face the same rules as large banks and credit unions.

FinTech 52

FinTech CashApp Rules Non-Bank 52

Neopay

MAY 7, 2024

Here are the main updates proposed by the FCA and their implications for regulated firms: Sanctions: enhancing control and compliance In response to geopolitical events such as Russia’s invasion of Ukraine, the FCA is proposing more rigorous controls and checks concerning sanctions.

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

Seon

JULY 10, 2024

It ensures smooth processing and compliance for legitimate payments, primarily verifying transaction details, validating customer credentials, screening against sanctions and watchlists, and ensuring compliance with regulations.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

MAY 3, 2019

Regulators from New York got the nod from a judge to move forward with their lawsuit aimed at stopping FinTechs from offering banking services on a national level. Regulators in New York want to prevent federal government agencies from granting FinTechs national licenses enabling them to loan and send money like a bank.

OCC 62

OCC FinTech Rules Regulations 62

Neopay

APRIL 25, 2024

The Payment Systems Regulator (PSR) has published its Annual Plan and Budget , setting out its key aims, activities and costs for 2024/25. The expansion of variable recurring payments (VRP) to regulated utility companies, more types of financial transfers, and payments to central and local government are an integral part of this work.

Push-to-Card 52

Push-to-Card Payee Regulations Blocks 52

PYMNTS

DECEMBER 19, 2019

A total of 41 apps were found to be not in compliance of user data rules, according to regulators, and violations included improperly collecting or using information about visitors to their services. The rules of the regulators are secret, but discussion of politically sensitive topics has been known to disappear from websites.

Privacy 52

Privacy Regulations Rules Authorization 52

PYMNTS

JULY 11, 2017

The Consumer Financial Protection Bureau (CFPB) has handed down a controversial ruling stating companies cannot opt to use arbitration clauses in their contracts with consumers in a manner that keeps consumers from joining class action lawsuits. The rule begins applying to agreements and contracts 180 days later. .

CFPB 40

CFPB Rules Consumer Financial Protection Bureau (CFPB) Credit Cards 40

PYMNTS

JULY 2, 2020

WhatsApp will be allowed to operate its payments service in Brazil once the company formally seeks permission and shows it can operate in the country without putting customers’ data at risk or violating rules intended to preserve competition, the company’s chief central banker said Thursday, according to Reuters.

Central Bank 93

Central Bank Payments Blocks Rules 93

PYMNTS

JANUARY 31, 2020

Financial institutions (FIs) and merchants in the European Union (EU) have had some time to get used to both the General Data Protection Regulation (GDPR) and the revised Payment Services Directive (PSD2). Australian regulators are still deciding how Open Banking will affect FIs within their country.

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Authorization Regulations API Rules 54

PYMNTS

JUNE 8, 2020

Financial regulators have been responding to this rise in online and contactless payment use by making careful changes to the regulations they already have in place for these methods, such as Strong Customer Authentication (SCA), according to the trade association for U.K. Regulators Jump to Tailor SCA for COVID-19.

Finance 60

Finance Contactless Payments Regulations Authentication 60

PYMNTS

MARCH 29, 2017

Once again, the lack of oversight, regulation and the potential for fraud in the broader bitcoin space worked against the proposed ETF. As with last time, bitcoin’s value fell upon the news — though not nearly as dramatically as after the previous SEC ruling. Concern among investors has grown amid signs of an impending hard fork.

Bitcoin 49

Bitcoin Blocks Digital Currency Rules 49

PYMNTS

FEBRUARY 5, 2019

1, new eCommerce rules in India began limiting what online retailers like Amazon and Flipkart can sell in the country. The eCommerce rules block companies from selling items through vendors in which they have an equity interest, which forced Amazon to remove hundreds of thousands of products from its website in India.

Laws 49

Laws Rules Blocks Regulations 49

PYMNTS

FEBRUARY 4, 2020

Open Banking’s European success has kicked off interest in similar regulations worldwide, most notably in China, India and Singapore, where digital banking’s popularity among general consumers is rapidly rising. It is likely that weak points will continue to be a reality until all affected countries fully adopt the regulations.

Authentication 57

Authentication Regulations Compliance Privacy 57

PYMNTS

MAY 25, 2018

As Europe’s General Data Protection Regulation (GDPR) comes into effect, Facebook privacy critic Max Schrems has filed four complaints over consent required to use online services. Furthermore, Schrems claims “Facebook has even blocked accounts of users who have not given consent.” But, with the law, users must be given a free choice.

Privacy 70

Privacy Laws Regulations Rules 70

PYMNTS

FEBRUARY 11, 2020

In a ruling that goes against a state-led lawsuit that aimed to stop a deal that would reshape the wireless industry, T-Mobile US Inc. The ruling occurred nearly two years following the first announcement of the arrangement. has received court approval for its Sprint Corp. and AT&T Inc., Bloomberg reported. and AT&T Inc.,

Rules 60

Rules Blocks Regulations Technology 60

The Fintech Times

DECEMBER 28, 2023

Rise of open banking The idea of open banking rapidly spread across the globe – either driven by regulators like in the UK or driven by the market as in the US. Thus, they write the rules for whatever happens on your phone and they can restrict any app’s access to the hardware at will. Google has not yet done so, but Apple has.

CHIPS 107

CHIPS Credit Cards Non-Bank PayPal 107

PYMNTS

MAY 28, 2020

Users pay fees to miners for transactions on the blockchain, and miners also receive a fixed amount of BTC for each block mined, which halves every four years. The mining difficulty, which shows how hard it is to mine blocks, was lowered 6 percent to 15.14 The last halving was on May 11, 2020.

Bitcoin 56

Bitcoin Cryptocurrency Blocks Transactions 56

PYMNTS

JANUARY 6, 2020

European countries that have not implemented PSD2 or some form of open banking have been an object of curiosity for the banking world since the regulation took effect in 2018. The Netherlands had its moment in the spotlight earlier this year when all the issues keeping it from implementing the rule were put on display.

Payment APIs and Integration 52

Payment APIs and Integration Regulations API Rules 52

PYMNTS

JANUARY 23, 2020

The European Union’s long-anticipated 5th Anti-Money Laundering Directive (5AMLD), which modernizes security rules to reflect the needs and threats facing today’s economy, took effect in mid-January, and its impacts are already being felt across the payments space. Worldpay On Modernizing Security To Foil eCommerce Fraud.

Money Laundering 62

Money Laundering Security AML Online and Mobile Banking 62

Neopay

AUGUST 7, 2024

Compliance can be seen by business development teams as something that blocks growth and revenue generation, and at times this can cause sales teams to try to find work arounds or put increased pressure on compliance teams to weaken their controls. Colleagues don’t try to avoid asking for their input but actively seek their advice.

Compliance 52

Compliance AML Procedures Risk 52

PYMNTS

JANUARY 18, 2019

India recently imposed new rules on foreign companies like Amazon, which will take effect at the end of this month. But the new regulations state that no foreign-funded marketplace can source more than 25 percent of its goods from a company associated with the marketplace. million small retailers and shopkeepers.”.

Rules 55

Rules Blocks Consulting Regulations 55