Finextra

JUNE 21, 2024

The MiCA regulation has established a unanimous law to govern and regulate crypto assets. The regula.

Regulations 52

Regulations Laws Governance Government 52

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 Governance Government 121

Neopay

APRIL 22, 2024

The UK’s company law landscape underwent significant changes with the enactment of the Economic Crime and Corporate Transparency Act, effective from 4th March 2024. The post Changes to UK company law appeared first on Neopay. Here is a summary of what you need to know about the new measures.

Laws 52

Laws Crime Due Diligence Law Enforcement 52

The Fintech Times

JULY 15, 2024

In this article, Akshata Namjoshi, Kabir Kuma, and Ahlam Faouzi from KARM Legal Consultants , the emerging technologies-focused law firm, provide an in-depth analysis of the UAE’s regulatory landscape for stablecoins. A unique characteristic of FSRA’s regulatory framework is the regulation and licensing of the issuance of fiat tokens.

Stablecoins 96

Stablecoins Regulations Multi-Currency Issuers 96

Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

APACS 106

APACS Regulations Stablecoins Cryptocurrency 106

Innovative Payments Association

JUNE 26, 2024

Regulators are facing a deadline for any new rules that they want to put in place, but that deadline isn’t the election, or even the inauguration of a new president. CRA dates back to 1996, when it became law as part of the Small Business Regulatory Enforcement Fairness Act. 5 U.S.C. § § 804(2). 5 U.S.C. §

Regulations 52

Regulations Rules Laws Governance 52

Global Fintech & Digital Assets

NOVEMBER 16, 2023

Recognizing new realities in decentralization, the regulations aim to provide market players with governance flexibility within distributed ledger technology foundations. The Regulations were published on November 1, 2023. Latham & Watkins has advised ADGM in drafting the Regulations. What are DLT Foundations?

Regulations 52

Regulations Technology Distributed Ledger Technology (DLT) Audit 52

Fintech Review

OCTOBER 22, 2024

Cryptocurrencies have rapidly gained prominence over the last decade, presenting both opportunities and challenges for individuals, businesses, and regulators alike. As digital assets become more widespread, taxation laws are being shaped and adapted to accommodate them. million won (£1,500) beginning in 2025.

Cryptocurrency 97

Cryptocurrency Laws IRS Regulations 97

Global Fintech & Digital Assets

OCTOBER 31, 2023

Licensees, exchanges, and other market participants should prepare to comply with the listing, disclosure, capital, and other requirements that the new law imposes. The DFAL contains an exclusion for persons that contribute “only connectivity software … to a protocol governing transfer of the digital representation of value.”

Laws 52

Laws Stablecoins Issuers Legal 52

PYMNTS

NOVEMBER 21, 2019

A group of senators have introduced a bill that would classify Facebook’s proposed cryptocurrency Libra as a security under the law, according to a report by CNBC. Bringing clarity to the regulatory structure of these digital assets protects consumers and ensures proper government oversight going forward,” Garcia said.

Laws 58

Laws Regulations Security Stablecoins 58

The Payments Association

NOVEMBER 12, 2024

Independent UK law firm Burges Salmon has announced the appointment of partner Martin Cook as the new head of the firm’s significant and fast growing Financial Services sector.

Cross-Border 88

Cross-Border Disputes Legal Laws 88

The Fintech Times

SEPTEMBER 23, 2024

Artificial intelligence (AI) and environmental, social and governance are some of the industry’s favourite terms to throw around. Only 39 per cent are committed to hiring experts in the field of AI and imposing governance and oversight structures to maximise the related opportunities.

AI 57

AI Regulations Fraud Detection Regulatory Compliance 57

The Fintech Times

JANUARY 22, 2024

UK businesses will need to meet new standards following the Financial Reporting Council (FRC)’ s “small but important” revisions to the UK Corporate Governance Code. The post Enhanced Transparency: FRC’s Overhaul of UK Corporate Governance Code appeared first on The Fintech Times.

Governance 57

Governance Government Due Diligence Audit 57

Fintech Finance

JULY 16, 2024

The Financial Stability Board (FSB) published today, for public consultation, its proposed recommendations to promote greater alignment in data frameworks related to cross-border payments and consistency in the regulation and supervision of bank and non-bank payment service providers.

Cross-Border Payments 94

Cross-Border Payments Cross-Border Consulting Regulations 94

PYMNTS

MARCH 2, 2020

New Jersey joins Washington, Illinois and other states and regions in introducing data privacy laws. The California Consumer Privacy Act went into effect in January, and the European Union’s General Data Protection Regulation ( GDPR ) went into effect in 2018.

Privacy 99

Privacy Regulations Laws Agreements 99

FICO

MAY 25, 2023

Home Blog Feed test AI Development Can’t Be Paused—But It Can Be Regulated Since Generative AI is here to stay, ChatGPT’s base grew by 9,900% in 60 days, with 1.8 We want to work with the government to prevent that from happening.” Sorry, Sam, it’s too late for prevention; the bell’s been rung, the cows are out of the barn , etc.—and,

AI 52

AI Regulations Audit Governance 52

PYMNTS

NOVEMBER 13, 2020

As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten FinTech acceleration, according to a Bloomberg report on Friday (Nov. The regulators are looking more closely at transaction-based platforms, Lau said, per Bloomberg.

Regulations 90

Regulations NOV Laws Digital Payments 90

The Payments Association

NOVEMBER 7, 2024

However, it is also under the perception of being beset by tough legal challenges, high fraud levels, and constant scrutiny from governments trying to regulate an industry evolving at a rapid pace. The state of play Navigating the fine tightrope that is regulation and compliance often feels like a maze.

Compliance 88

Compliance Innovation Regulations Payments 88

The Fintech Times

SEPTEMBER 12, 2024

However, it is key not to forget the role of the regulator. Despite this, the UK regulator didn’t hand out any fines or punishments, prompting us to ask if tougher penalties or consequences would lead to better outcomes. Should regulators impose tougher penalties on firms that fail to comply?

Compliance 62

Compliance Regulations Financial Crimes Non-Bank 62

Open Banking Excellence

SEPTEMBER 27, 2024

Half a decade ago, Mexico demonstrated its ongoing commitment to updating its financial regulation with the introduction of the Fintech Law. FinTech in Mexico Mexico introduced the Fintech Law in March 2018 as a response to the remarkable 50% growth in the number of fintech firms in the preceding two years.

Financial Inclusion 147

Financial Inclusion FinTech Laws Regulations 147

The Paypers

SEPTEMBER 21, 2021

The Australian Government has announced considering new laws that would tighten the regulation of digital payment services by tech giants such as Apple and Alphabet’s Google.

Governance 31

Governance Government Regulations Laws 31

Finovate

MAY 6, 2024

From the perspective of an onlooker, it appeared that regulators were issuing the consent orders to make examples out of certain players in the industry, foregoing formal BaaS regulation. Regulators’ New Resource on BaaS Relationships is Disappointing appeared first on Finovate.

Regulations 52

Regulations Community Banks FDIC Due Diligence 52

The Fintech Times

MARCH 26, 2024

is calling for new laws to force domain registrars to do more to prevent scam banking ‘copycat’ websites appearing in the first place; after it revealed that over 2,000 of these suspected sites were reported in 2023. Despite the fact that many companies operate as both, the industry continues to self-regulate.

Government 62

Government Governance Scams Non-Bank 62

The Payments Association

MARCH 26, 2024

As the crypto market continues to innovate and grow, governments and regulators around the world are struggling to keep pace. The constantly shifting policy and regulatory landscape is also challenging for crypto businesses to navigate—particularly for firms seeking to operate in the UK where cryptoasset rules remain in flux.

Financial Crimes 88

Financial Crimes Crime Consulting Compliance 88

PYMNTS

JUNE 13, 2019

Latvia’s parliament has passed new regulation to bolster the fight against money laundering and terrorism financing. After a series of recent scandals, the country’s government was accused of being too lenient with banks. But the current head of the commission, Peter Putnins, is critical of the changes.

AML 48

AML Money Laundering Laws Regulations 48

Payment Savvy

MAY 5, 2021

Most people think that payment processing for law firms is a simple and straightforward process. However, it is a complex procedure that is governed by strict regulations. Due to the above reasons, law firms need to adopt an advanced payment processing system. Payments received must be deposited to a trust account.

Laws 52

Laws Process Payments Debit Card 52

The Fintech Times

SEPTEMBER 4, 2024

The UK’s Payment Systems Regulator (PSR) has announced a significant reduction in the maximum fraud reimbursement limit for authorised push payment (APP) scams, lowering it from £415,000 to £85,000 just weeks before new rules take effect in October. Rocio Concha, director of policy and advocacy at UK consumer body Which?,

Regulations 57

Regulations Scams Payments Caps 57

Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers. On effective enforcement, the IMC proposes strengthening the legislative tools available to law enforcement agencies.

Money Laundering 113

Money Laundering Law Enforcement Financial Crimes Due Diligence 113

The Fintech Times

OCTOBER 18, 2024

In contrast, fintech companies must adopt a forward-looking approach that integrates KRIs with traditional key performance indicators (KPIs) to ensure robust financial governance. Governance risks are tied to the company’s ability to comply with relevant laws and regulations.

Risk 106

Risk FinTech Risk Management Cybersecurity 106

PYMNTS

FEBRUARY 21, 2020

It accomplishes that by threatening a critical immunity named Section 230 that firms have with federal law. The action is said to be the newest exhibit of how Washington lawmakers and regulators are taking another look at the need for incentives that had aided the growth of digital firms.

Encryption 83

Encryption Laws Best Practices Law Enforcement 83

Fintech News

JULY 21, 2024

This move is part of a new regulation for Information Technology-Based Joint Funding Services (RPOJK LPBBTI), which is currently in development and incorporates feedback from various stakeholders.

P2P 95

P2P Caps Consumer Protection Risk Management 95

The Paypers

DECEMBER 1, 2023

The Australian government has announced a delay on its BNPL laws until 2024, due to resourcing pressures on the federal government’s legislative drafting teams.

BNPL 36

BNPL Regulations Laws Governance 36

The Paypers

AUGUST 30, 2021

The Australian government has announced it is considering new laws that would tighten the regulation of digital payment services by tech giants such as Apple and Alphabet's Google.

Regulations 60

Regulations Laws Governance Government 60

Fintech Finance

FEBRUARY 6, 2024

However, regulations concerning invoice formats, systems, tax rules and timelines can be challenging and differ across countries. With over 25 years in product, trade and tax compliance, Hornburg has worked with governments and private sector companies globally, bringing a wealth of experience defining and delivering digitalization efforts.

Compliance 52

Compliance Regulations Cross-Border Automation 52

VISTA InfoSec

OCTOBER 26, 2023

To accomplish this, companies must adhere to specific regulations and standards. federal law passed in 2002 to protect investors from fraudulent financial activities. SOX establishes regulations around financial reporting, mandates internal control audits, and strengthens corporate governance. It applies to all U.S.

Audit 130

Audit Compliance Laws Governance 130

Payment Savvy

NOVEMBER 30, 2021

This federal law, known as Regulation F goes into effect on November 30, 2021. Regulation F affects everything from debtor communication to multi-state compliance. From a quick recap of the FDCPA to highlighting several points collectors should know about the legislation, get ready to get savvy on Regulation F.

Regulations 52

Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

Stax

SEPTEMBER 26, 2024

Learn how your business can capitalize on these transaction fees while staying on the right side of the law. But they advise businesses to check state laws for stricter limits or an outright surcharging ban. Surcharging credit card payments involves specific regulations and practices. How Do Credit Card Surcharges Work?

Credit Cards 88

Credit Cards Caps Best Practices Laws 88