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.

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Neopay

JUNE 24, 2024

Earlier this month, industry body The Payments Association called on the incoming head of the Payments Systems Regulator (PSR) to delay activating new APP fraud regulations around reimbursements. Source : Payments Cards and Mobile The post New regulation on APP fraud will come into play as planned appeared first on Neopay.

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PYMNTS

DECEMBER 18, 2020

Treasury Department proposed sweeping new rules late Friday (Dec. 18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. The rationale for the new regulations, as the government laid out in the Federal Register, is that "U.S.

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PYMNTS

JANUARY 20, 2021

The Chinese government is preparing to crack down on what it views as antitrust behavior in the payments sector by tech giants such as Ant Group and Tencent Holdings. Payment companies that already possess state licenses will be given one year to comply with the new regulations.

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Payment Savvy

MAY 11, 2023

Visa has a set of rules and regulations that govern the use of its payment network, and these rules and regulations are subject to change from time to time. In this article, we will discuss the recent visa rule changes and how they impact you.

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Finextra

AUGUST 1, 2024

As the banking industry chafes against upcoming rules governing payback to victims of authorised push payment fraud, the Payment Systems Regulator has released new data which shows that reimbursement for victims still depends largely on who they bank with.

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Neopay

MARCH 25, 2024

Details As part of the fraud strategy, the government committed to explore whether to allow payment service providers, such as banks, more time to investigate suspicious payments. The government is publishing this draft legislation for technical checks and welcomes comments on this by 12 April 2024.

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PYMNTS

JANUARY 24, 2019

The United States government is raising concerns about India’s eCommerce regulations that go into effect on Feb. The rule also prevents them from inking exclusive deals with sellers. government has told Indian government officials that the new rules will harm the investment plans of Amazon.com and Walmart, Inc.

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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. Do the FSRA rules still apply?

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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?,

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PYMNTS

DECEMBER 3, 2019

Department of Agriculture’s (USDA) interim final rule on hemp production. After further evaluation of the USDA interim final rule, the Financial Crimes Enforcement Network (FinCEN) will issue additional guidance. The statement provides FIs with federal data that defines the legal status of hemp, as well as the U.S.

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The Fintech Times

JULY 10, 2024

Investment research budgets are increasing in 2024, particularly in the US, signalling a market rebound, but the potential implementation of the Financial Conduct Authority’ s (FCA) new payment rules could further reshape spending dynamics and competitive practices in Europe. ” What is MiFID II?

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The Fintech Times

JUNE 10, 2024

The Payments Association is urging for a delay in the rollout of new authorised push payment (APP) fraud rules, leveraging the recent leadership change at the Payment Systems Regulator (PSR) as a pivotal moment to push for reconsideration. The rule changes require the FPS to ensure that Pay.UK

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International Payments Processing

DECEMBER 9, 2021

The constant evolution in the payment’s ecosystem requires major card networks like Visa to change their regulations to protect cardholders from fraud and cybercrime. Visa has updated rules that acquiring banks, merchants, and registered ISOs must follow. These regulations will help merchants reduce fees and chargeback liability.

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International Payments Processing

DECEMBER 9, 2021

The constant evolution in the payment’s ecosystem requires major card networks like Visa to change their regulations to protect cardholders from fraud and cybercrime. Visa has updated rules that acquiring banks, merchants, and registered ISOs must follow. These regulations will help merchants reduce fees and chargeback liability.

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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.

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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.

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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.

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PYMNTS

NOVEMBER 30, 2020

The British government is establishing a new Digital Markets Unit tasked with enforcing laws that apply to Big Tech companies, such as Google and Facebook , authorities announced in a press release. The new unit, according to the government's announcement, will fall within the U.K.'s The rules are set to take effect in April.

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Fintech News

DECEMBER 18, 2023

The regulator said in a statement, “MAS has been actively engaging the remittance companies involved. While Singapore has no jurisdiction over the frozen beneficiary bank accounts, the government remains in close contact with the PRC government to facilitate the decision on account unfreezing.

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Global Fintech & Digital Assets

DECEMBER 18, 2023

By Jenny Cieplak , Parag Patel , Barrie VanBrackle , and Deric Behar On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule, Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (the Proposal), to supervise large providers of digital wallets and payment apps.

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The Fintech Times

SEPTEMBER 17, 2024

Singapore-based fintech Xalts is joining forces with smart contracts platform Avalanche , in a move to support financial services, governments, and other enterprise developers in building digital asset platforms for implementing blockchain, tokenisation, and smart contract applications.

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Neopay

NOVEMBER 27, 2023

The Financial Conduct Authority (FCA) and the Bank of England (the Bank) are requesting feedback on their proposed approach to regulating stablecoins. The proposals to regulate stablecoins aim to protect consumers, prevent money laundering with a robust set of rules and to safeguard financial stability.

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Innovative Payments Association

DECEMBER 21, 2023

The regulators seem to want to put coal in the stockings of payments companies this year. Over the past few weeks, regulators have released a variety of regulations that could reshape the payments industry and have plans for more in the new year. We also talk about what the regulators say is on their agenda for 2024.

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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.

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The Fintech Times

DECEMBER 22, 2023

In this instalment, we address the regulatory landscape in the fintech and blockchain industries, with a focus on the need for compliance, transparency and the impact of regulations like MiCA, as well as the positive effects of regulatory advancements on the financial ecosystem and the growing interest in crypto ETFs.

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Fintech Finance

FEBRUARY 6, 2024

However, regulations concerning invoice formats, systems, tax rules and timelines can be challenging and differ across countries. ” The post Basware Appoints Head of Compliance to Help Customers Navigate Global E-invoicing Regulation appeared first on Fintech Finance.

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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).

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PYMNTS

FEBRUARY 6, 2019

The Indian government is going after social media apps run by Chinese companies, gearing up to create new regulations that will force them to oversee the content being shared. According to a report in the Financial Times , with Chinese social media apps very popular in India, the government is setting its sights on them.

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Innovative Payments Association

NOVEMBER 17, 2023

A number of new regulations have been proposed that could shape how companies operate at the federal and state levels. In th e latest episode of the IPA Payments Podcast , Brian Tate, the IPA’s CEO, and COO Ben Jackson discuss the latest proposed regulations that care coming out of Washington.

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PYMNTS

JULY 16, 2020

In a surprise win for privacy advocates, the European Court of Justice has ruled companies will face restrictions on storing information about European Union (EU) residents on U.S. The top court of the 28-nation bloc ruled the transfer of personal data to platforms in the U.S. servers, The Wall Street Journal reported. Alphabet Inc.’s

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Payment Savvy

NOVEMBER 30, 2021

In 2020, the Consumer Financial Protection Bureau (CFPB) published two rules which implement the Fair Debt Collection Practices Act (FDCPA). This federal law, known as Regulation F goes into effect on November 30, 2021. In that case, you must comply with this comprehensive new rule. What is Regulation F?

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PYMNTS

MARCH 20, 2020

The policy being drafted by India’s trade ministry also calls for a new regulator to provide oversight and enforce compliance. The regulator will have the authority to request information from tech firms and also enforce other Indian laws aimed at consumer protection and fair competition, the sources said.

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PYMNTS

JANUARY 29, 2021

eCommerce giants, India is considering revising its rules after allegations surfaced that Amazon and Walmart’s Flipkart devised ways to sidestep investment regulations. India changed its foreign direct investment (FDI) rules in 2018 to stop international firms from selling goods from merchants they have a financial stake in.

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Payments Source

MARCH 4, 2021

As the public's interest in bitcoin and other crypto assets gradually spreads, government rules and compliance will follow, says Voyager Digital's Stephen Ehrlich.

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PYMNTS

JULY 9, 2020

The United Kingdom’s financial regulator has toughened rules on payment companies less than two weeks after Wirecard AG’s collapse locked millions of customers out of their accounts, the Financial Times reported. Late last month, the FCA froze the German payment company’s funds as regulators determined the next steps.

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PYMNTS

FEBRUARY 20, 2018

It doesn’t look like global banking regulators will be rushing to change their rules for FinTechs anytime soon. Regulators, however, have been hesitant to offer any heavy regulation on the industry. Regulators, however, have been hesitant to offer any heavy regulation on the industry.

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