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 Finance

MARCH 7, 2024

PPRO , the leading local payments platform, has announced the appointment of three new senior leaders across legal and compliance: Selene Brett as Chief Legal, Risk and Compliance Officer, Marc Kuzak as Legal Director, and Massimiliano Conte as Compliance Director. I am joining the company with a strong team.

Legal 52

Legal Compliance Risk Financial Crimes 52

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?

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Compliance Regulations Financial Crimes Non-Bank 64

The Fintech Times

MAY 15, 2024

In a move to bolster cybersecurity and protections for AI models against hacking and sabotage, the UK government has officially unveiled a host of new measures, which also hope to set a new global standard. Employees using the technology need to know how to do so legally and ethically.”

Cybersecurity 72

Cybersecurity AI Governance Government 72

Core

MARCH 19, 2024

City and county government institutions bear the responsibility of careful management—and protection—of public funds. Still, payment fraud is a concern in every sector, and the stakes for government organizations are especially high. The solution: robust government fraud detection mechanisms for payment systems.

Fraud Detection 52

Fraud Detection Governance Government Compliance 52

Innovative Payments Association

AUGUST 15, 2024

As a result, regulators are now taking a closer look at how AI is being used in FinTech and are working to establish guidelines and regulations to ensure that AI is being used responsibly and ethically. One of the key issues that regulators are focusing on is the transparency and explainability of AI algorithms.

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Boot Camp Regulations AI FinTech 52

The Payments Association

NOVEMBER 12, 2024

In his new role, Martin will play an instrumental part in continuing to grow the firm’s presence in the sector and enhancing its innovative solutions to continue to support clients with every day legal needs, business critical projects and every touchpoint in between.

Cross-Border 88

Cross-Border Disputes Legal Laws 88

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

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

Segpay

OCTOBER 23, 2024

With increasing regulatory pressure from both government agencies and financial institutions, the risk of facing a “takedown” or operational disruption is higher than ever. Evolving Regulatory Landscape: Laws and regulations are constantly changing, and what was compliant yesterday may not be today.

Compliance 78

Compliance Non-Bank Legal Processors 78

The Fintech Times

MAY 11, 2024

A refreshing sentiment that stands in stark contrast to the usual grumblings elsewhere that regulations hinder innovation. In Dubai, stakeholders view regulations as a catalyst for growth and success, providing a sturdy foundation that drives the thriving developments in the fintech sector.

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Regulations FinTech Innovation Authorization 59

The Fintech Times

MARCH 26, 2024

has joined forces with the DNS Research Federation (DNSRF), an Oxford-based non-profit that does data-driven policy research on domain names and internet governance, to find out just how widespread the issue is. Despite the fact that many companies operate as both, the industry continues to self-regulate. In response, Which?

Governance 64

Governance Government Scams Non-Bank 64

Global Fintech & Digital Assets

FEBRUARY 26, 2024

By Simon Hawkins and Adrian Fong On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a consultation paper on its proposal for implementing new regulations on the prudential treatment of cryptoasset exposures (Consultation Paper).

Consulting 52

Consulting Regulations Distributed Ledger Technology (DLT) Stablecoins 52

PYMNTS

JANUARY 1, 2021

If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers.

Regulations 141

Regulations FTC Federal Trade Commission Treasury 141

Payments Source

JUNE 3, 2018

With regulations, users rest easy knowing that the exchange isn't going to get shut down for ignoring basic legal responsibilities and duties, writes Nate Flanders, co-founder and CEO of Mandala Exchange. People need to know their money is safe.

Cryptocurrency 107

Cryptocurrency Governance Government Legal 107

EBizCharge

NOVEMBER 12, 2024

While starting a new business is an exhilarating journey, it comes with numerous responsibilities, including acquiring a business license to legally sell products or services. A business license is an official government-issued permit that authorizes individuals or companies to conduct business within the government’s jurisdiction.

Legal 52

Legal Regulations IRS Compliance 52

PYMNTS

DECEMBER 23, 2019

Businesses and government institutions are adapting to instant payments as more consumers are requesting them. The latest PYMNTS Disbursement Satisfaction Report revealed that more than 24 percent of government disbursements were made through instant rails in 2019. Legal system complexities stall instant payment adoption.

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Legal Instant Payments Checks Settlement 52

PYMNTS

JULY 7, 2019

Congress “is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.”. regulators and politicians increase their focus on big tech and associated areas, with recent hearings targeting Facebook and Google. It is part of a broader push to boost the nascent cryptocurrency industry.”

Regulations 82

Regulations Legal Framework Cryptocurrency Bitcoin 82

PYMNTS

JUNE 11, 2020

The COVID-19 pandemic has upended the way businesses and government agencies verify their customers’, clients’ and citizens’ identities. Businesses and government entities can then use biometric data to match them with their official documents in their databases and verify their identities. Digital Innovation, Legal implementation.

AML 74

AML Legal Compliance Verification 74

PYMNTS

JULY 15, 2019

The Financial Action Task Force (FATF) recently released guidelines intended to increase the transparency of digital asset transactions, as regulators push for greater cryptocurrency oversight. In retail news, the legal cannabis industry is evolving in Colorado with the state’s licensed businesses.

Regulations 51

Regulations Governance Government Money Laundering 51

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. Harassment.

Regulations 52

Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

PYMNTS

DECEMBER 19, 2019

The effect is perhaps most pronounced in the legal profession, where payments have been done a certain way for time immemorial, and where there are also serious matters of compliance. ‘I But stringent rules also govern when law firms must pay settlements and judgments, and there are damaging fines for payment timing errors.

Legal 52

Legal Settlement Checks Laws 52

PYMNTS

AUGUST 11, 2020

A merchant cash advance company typically issues what effectively, though perhaps not legally, are loans to businesses based on current revenue streams and as a condition requires permission to withdraw payments directly from the merchants’ bank accounts.

Federal Trade Commission 94

Federal Trade Commission Regulations FTC Small Business 94

PYMNTS

JANUARY 25, 2021

The prohibition is part of a larger legal reform that also bans government officials from opening accounts at foreign banks. They could become a “safe-haven asset” and used for asset diversification in investor portfolios if they can overcome volatility, regulation, trust and reputation challenges, according to the report.

Governance 104

Governance Government Bitcoin Cryptocurrency 104

The Fintech Times

APRIL 26, 2024

In fact, many do not think they are addressing the practicalities of modern AML operations as a result of current and upcoming AML regulations. Finding the right staff to ensure the right practices in line with regulations are being implemented effectively was also a problem highlighted within the report for 35 per cent of respondents.

AML 59

AML Regulations Financial Crimes Money Laundering 59

Segpay

OCTOBER 3, 2024

Age verification tools are crucial in the adult industry to ensure that only users of legal age (typically 18+) access adult content. checks government-issued IDs and cross-references them with official databases. It is GDPR-compliant and offers high security. ID.me : A platform for identity verification, ID.me

Compliance 91

Compliance Verification Database Privacy 91

PYMNTS

DECEMBER 3, 2019

The statement provides FIs with federal data that defines the legal status of hemp, as well as the U.S. If banks have additional questions regarding the Agriculture Improvement Act of 2018 (2018 Farm Bill) and its regulations, they can contact the USDA, state departments of agriculture and tribal governments.

Suspicious Activity Report (SAR) 55

Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

PYMNTS

OCTOBER 8, 2019

New regulation principles to govern digital currencies are in the works by the European Union’s finance commissioner after fears ignited by Facebook’s planned Libra coin launch, Reuters reported on Tuesday (Oct. The EU largely rejected regulations on cryptocurrency until Libra was announced in June.

Government 69

Government Governance Multi-Currency Stablecoins 69

The Fintech Times

OCTOBER 18, 2024

Risk management is a necessity in fintech, as well as a legal obligation. In contrast, fintech companies must adopt a forward-looking approach that integrates KRIs with traditional key performance indicators (KPIs) to ensure robust financial governance.

Risk 108

Risk FinTech Risk Management Cybersecurity 108

The Payments Association

NOVEMBER 13, 2024

Chief among these is the current patchwork of regulations governing blockchain and digital assets worldwide. Legal certainty around the globe and between jurisdictions will embolden innovators, reassure traditional stakeholders, and exponentially grow the already underway revolution.

Blockchain 88

Blockchain Use Case Financial Inclusion Stablecoins 88

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

AI 52

AI Regulations Legal Framework Non-Bank 52

PYMNTS

DECEMBER 9, 2020

French ski resorts are mounting a legal challenge against the government’s order to keep ski lifts closed at resorts this holiday season. In response to the closures, the French government plans to announce additional financial support for the ski industry on Wednesday (Dec.

Legal 94

Legal Authorization Economy Checks 94

Global Fintech & Digital Assets

DECEMBER 18, 2023

Whether a judicial ruling or persistent legal challenges will delay implementation of this Proposal (or others) remains to be seen. The Proposal also excludes certain types of transactions, including the following: International payments or money transfers (e.g.,

CFPB 75

CFPB Regulations Consumer Financial Protection Bureau (CFPB) Non-Bank 75

Innovative Payments Association

SEPTEMBER 16, 2024

This guide offers a detailed look at the critical legal and regulatory issues that banks and fintechs must address. An overview of relevant regulations such as Regulation E, Regulation Z, the Bank Secrecy Act, and others. This guide provides the tools needed to build those frameworks.”

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Regulatory Compliance Compliance FinTech Financial Inclusion 52

VISTA InfoSec

OCTOBER 26, 2023

To accomplish this, companies must adhere to specific regulations and standards. SOX establishes regulations around financial reporting, mandates internal control audits, and strengthens corporate governance. It applies to all U.S. Now let’s examine the key differences between SOC and SOX audits.

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Audit Compliance Laws Government 130

Fintech Finance

SEPTEMBER 24, 2024

The government is producing a much needed National Payments Vision and Strategy (NPV&S), that reflects its recognition of the systemic importance of payments to the UK authorities and how its leadership must give rise to a new era for payments. Prioritise initiatives and decide on investment programmes.

Cross-Border Payments 71

Cross-Border Payments Financial Inclusion Cross-Border Financial Crimes 71

Fintech News

JUNE 12, 2024

Theme 1: Establishing Optimal Governance and Interoperability Frameworks Effective governance and interoperability frameworks will be crucial for managing the complexities of cross-border payments. Another important thing is making sure payments are final and can’t be reversed, both within countries and across borders.

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Cross-Border Payments Cross-Border Interoperability Payments 96