Japan introduces stablecoin legal framework
The Paypers
JUNE 3, 2022
Japan has introduced a legal framework to clarify the legal status of stablecoins, defining them as digital money.
Legal Framework Related Topics 
Is 2025 Finally the Year for Open Finance in Southeast Asia?
Fintech News
JANUARY 21, 2025
Vietnam, though still lacking a legal framework for open banking, has seen progress through initiatives by individual banks. Malaysia has also made strides, publishing in 2019 a policy document titled Publishing Open Data using open API.
Money laundering reform from Congress is needed more than ever
Payments Source
NOVEMBER 19, 2020
Bankers must identify money launderers and traffickers, and yet although not precluded, the current legal framework actually limits the sharing of data about potential suspicious activity and customers between institutions, says Giant Oak's Gary Schiffman.
Age Verification in Latin America
Segpay
SEPTEMBER 30, 2024
This blog explores child protection laws across key Latin American countries, highlighting their different approaches and the evolving regulatory frameworks. The Brazilian Child and Adolescent Statute (ECA) provides a broad legal framework to protect minors. We also look at the age verification tools that are used in the region.
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Twitter, Other Tech Companies Caution Europe Over Internet Rules
PYMNTS
DECEMBER 10, 2020
The legal framework for digital services has been largely unchanged in the region for about 20 years. That’s even as “repressive regimes around the world use draconian legal frameworks to stifle online freedoms.”. Several companies, including Twitter , are urging European Union regulators to “defend the Open Internet.”
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Navigating legal uncertainty: How the Digital Assets Bill could impact PSPs
The Payments Association
JANUARY 13, 2025
Under the Bill, PSPs will be required to review their obligations under this evolving legal framework to confirm their ability to deliver on redemption guarantees. This could lead to disputes over ownership, custody, and liability in cases where the legal framework is yet to be fully tested.
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Singapore’s Risk Assessment Highlights New Terrorism Financing Concerns
Fintech News
JULY 1, 2024
This strategy involves coordinated risk identification, robust legal frameworks, strict regulatory regimes, decisive enforcement actions, and international cooperation.
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BIS and 7 Central Banks Launch Project Agorá for Tokenised Cross-Border Payments
Fintech News
APRIL 3, 2024
Such inefficiencies, compounded by disparate legal frameworks, regulatory standards, and technical requirements across jurisdictions, present considerable challenges in terms of operational hours, time zones, and the repetitive execution of financial integrity checks, such as anti-money laundering and customer verification protocols.
EU Digital Identity Wallet secures provisional agreement
The Paypers
JUNE 30, 2023
The EU has reached a provisional agreement between the European Parliament and the Council of the European Union for the legal framework regulating the European Digital Identity.
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EBA calls for strengthening the connection between the EU legal frameworks on AML/CFT, DGSD
The Paypers
DECEMBER 15, 2020
The European Banking Authority (EBA) has published an Opinion on how to strengthen the connection between the EU legal frameworks on anti-money laundering and terrorist financing, and deposit protection.
India’s Pharmacists Call For Shutdown Of Amazon Entry
PYMNTS
AUGUST 17, 2020
The legal framework surrounding Amazon’s move is complicated by the general muddy state of drugstore regulation in India. Amazon Pharmacy launched in Bengaluru, India last week. For years, pharmacists have complained about confusion around what is allowed as small operations have launched.
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Reflecting on 2024: A transformative year in payments regulation
The Payments Association
DECEMBER 2, 2024
For instance, some platforms delisted certain stablecoins that did not comply with the new regulations, ensuring adherence to the EU’s legal framework. In response to MiCA’s requirements, several crypto exchanges and service providers adjusted their offerings.
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Chinese Official: Ant IPO Could Get Back On Track When Issues Are Resolved
PYMNTS
JANUARY 26, 2021
Speaking at a World Economic Forum panel, Yi said the matter was “complicated” and what was needed was a clear legal framework. “I Bloomberg reported that People’s Bank of China Governor Yi Gang said regulatory agencies are, in relation to Ant, still looking into issues surrounding potential monopolies.
Bybit Lands in Argentina With VASP and Card Operator Approval
The Fintech Times
AUGUST 19, 2024
In April 2024, the country reviewed the legal framework for virtual assets declaring that providers must register and comply with the duty to report to authorities. This reflects the growing acceptance of digital assets within the country’s legal framework.
Portugal Recognizes Akurateco for Its High Growth Potential
Fintech Finance
SEPTEMBER 17, 2024
21/2023, dated May 25th, which sets the legal framework for startups and scaleups in Portugal. This milestone reflects Akurateco’s dedication to pushing the boundaries of technology in the financial sector and its commitment to scaling operations within Europe.
Lawmakers Push To Fast-Track Crypto Regulation
PYMNTS
JULY 7, 2019
is falling behind: Japan and Switzerland have developed legal frameworks that have attracted cryptocurrency projects and investment. The newspaper said “crypto’s backers in Washington say regulatory clarity is vital to the sector’s growth. They also worry the U.S.
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ECB Publishes First Progress Report on Digital Euro Preparation Phase
Fintech Finance
JULY 1, 2024
The digital euro preparation phase is progressing well and we support the ongoing democratic debate on the legal framework for the digital euro,” said Executive Board member Piero Cipollone, who chairs the High-Level Task Force on a digital euro. The digital euro is a common European endeavour.
Decentralised Autonomous Organisations (DAOs): Governance and Innovation
Fintech Review
SEPTEMBER 17, 2024
Legal Challenges Facing DAOs While they offer many advantages, they are not without challenges, particularly regarding legal recognition. DAOs exist in a grey area legally because traditional legal frameworks have not caught up with blockchain innovations.
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How Data Is Changing the Future of Banking
Fintech News
JANUARY 17, 2024
This mindset must be replaced with a technology- and data-friendly culture that enables companies to exploit the full potential of data-driven banking within the existing legal frameworks.
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European Central Bank sets out business model for digital euro
NFCW
JUNE 25, 2024
” “The digital euro preparation phase is progressing well and we support the ongoing democratic debate on the legal framework for the digital euro,” Executive Board member Piero Cipollone, chair of the High-Level Task Force on a digital euro, says. The digital euro is a common European endeavour.
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European Central Bank To Launch Network Of Watchdogs To Fight Money Laundering
PYMNTS
NOVEMBER 20, 2018
According to the report, the European Central Bank said it doesn’t have a legal mandate to go after money laundering, which is usually in the hands of the authorities of each European Union country.
SEC Proposal Would Allow Token Sales Under Current Securities Laws
PYMNTS
FEBRUARY 6, 2020
The proposal is meant to create a legal framework for that process, and to allow the tokens to be sold under current securities laws. Recently, ICOs have been a highly successful way for companies in the crypto field to raise millions of dollars without being subject to the oversight of regulators.
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The Cybersecurity Threat Of GDPR
PYMNTS
APRIL 12, 2019
“If the data controller implicitly trusts a data processor simply because there is a consistent legal framework in place, criminal abuse of trust will always take place.”
EU Digital Services Act Discussion Could Be Start Of Seismic Policy Change
PYMNTS
NOVEMBER 20, 2020
The European Commission noted on its site that the legal framework for digital services has been unchanged in the region for about 20 years. It would also change some of the market’s competitive dynamics. Public consultation on the act ended in September. The proposal to the EU Parliament is on the horizon.
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Mexico in Focus: Open Banking and Financial Inclusion
Open Banking Excellence
SEPTEMBER 27, 2024
The main objectives of this law are to promote financial inclusion, establish a solid legal framework to increase users’ confidence in financial technology services, and stimulate greater competition in the financial market. In 2023, the Fintech landscape experienced notable growth.
Trade Finance Poised for Digital Revolution Though Obstacles Remain
Fintech News
FEBRUARY 14, 2024
The guide provides a practical toolkit for the industry, leveraging expert opinions from various stakeholders to explore the role of banks in digitalization initiatives, legal frameworks, international standards and innovative technologies.
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Bitcoin Daily: Darknet Bitcoin Spending Slides During COVID-19 Pandemic; Telegram Prohibited From Issuing Tokens To Foreign Investors
PYMNTS
APRIL 1, 2020
The company said it “plans to offer its platform into countries with legal framework and regulation for cryptocurrencies.” And, digital currency exchange BuyUcoin has received a trade and wallet license in Estonia, according to an announcement.
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Bitcoin Daily: South Korean Crypto Exchange Loses $49M In Mysterious Transaction; Gladius Crypto Firm Shutters After SEC Settlement
PYMNTS
NOVEMBER 28, 2019
27, the Swiss Federal Council adopted the dispatch on the further improvement of the framework conditions for DLT/blockchain, which is aimed at increasing legal certainty, removing barriers for applications based on DLT and reducing the risk of abuse. And during a meeting on Nov.
Ohio Bill Urges Govt. To Adopt Blockchain
PYMNTS
APRIL 28, 2019
According to Cleavland.com , the bill sponsored by Ohio Representative Rick Caragna is part of the state’s efforts to build a legal framework for the technology that underpins cryptocurrencies such as bitcoin.
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Bienvenue en France: Gemini Registers Exchange in its 13th EU Country
The Fintech Times
JANUARY 18, 2024
By creating a standardised legal framework across the EU, MiCA not only increases the accountability of service providers but also fosters consumer confidence in using and investing in crypto-assets.
Australia Forms Body To Handle Entrepreneurs’ Bank Disputes
PYMNTS
NOVEMBER 2, 2018
As the government explores how to mitigate the issue, the nation’s Commissioner Kenneth Hayne released an interim report earlier this year , noting that there is little evidence to support the need for overhauling the legal framework to expand borrower protections to small businesses.
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Website Liability Reform Worries Smaller Players
PYMNTS
DECEMBER 23, 2020
We support legal frameworks that achieve these goals.”. “We all share the same goal: free access to information for everyone, and responsible protections for people and their data,” Pichai told lawmakers, according to Bloomberg. “We
Open Banking APIs Meet B2B Payments
PYMNTS
JULY 6, 2020
While much of the legal framework has come from European Union (EU) regulators, it is a loose alliance of financial institutions (FIs), heavy-duty tech players and nimble FinTechs making breakthroughs.
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76 Lawmakers Push To Fast-Track Crypto Regulation
PYMNTS
JULY 7, 2019
is falling behind: Japan and Switzerland have developed legal frameworks that have attracted cryptocurrency projects and investment. The newspaper said that “crypto’s backers in Washington say regulatory clarity is vital to the sector’s growth. They also worry the U.S.
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Seamless Asia 2024: the Future of Finance in APAC with Insights from Intix
The Fintech Times
FEBRUARY 21, 2024
Furthermore, Asia is proactive in implementing the necessary legal frameworks to support these advancements. Unlike the EU, which benefits from uniform regulations and a shared legal framework for its member states, Asia presents a tapestry of diversity with no overarching structures.
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Oman’s Fintech Future: A Market on the Rise
The Fintech Times
JANUARY 31, 2025
Sharakah provides financial support and post-financial to SMEs in Oman Oman Technology Fund Aims to put Oman firmly on the map of knowledge leaders in the Middle East Oman Banks Association (OBA) A non-profile professional association for the countrys banking industry Breakdown of sector: Image Source: The Fintech Times Timeline of key fintech (..)
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Groups Call On Congress To Use Bank Secrecy Act For Crypto Regs
PYMNTS
SEPTEMBER 2, 2019
Japan and Switzerland have already developed legal frameworks that have attracted cryptocurrency projects and investment. Changes in the payments industry are reducing the transparency of retail and other consumer payments throughout the value chain. Facebook chose to incorporate the group that will govern Libra in Switzerland.
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Understanding Crypto Money Laundering, and How to Get a Handle on It
Fintech News
JULY 17, 2024
The United States continues to rely on the Bank Secrecy Act (BSA) as the primary legal framework governing AML regulations, with the Financial Crimes Enforcement Network (FinCEN) providing guidance on how these regulations apply to cryptocurrency businesses. The United Arab Emirates has amended Federal Decree-Law No. (20)
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DIFC Keeps Up With Digital Asset Development, Enacting New Law and Amending Other Legislation
The Fintech Times
MARCH 14, 2024
In this regard, the broader legal questions as to the exact nature of the legal features and consequences of digital assets has very much remained open for debate on a number of key issues.
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European Banks Want More Regulation Of Large Tech Companies
PYMNTS
MAY 24, 2018
Botin wants a “single legal framework for data,” noted the report. She doesn’t mind taking on tech companies but wants its to be on the same terms. They are all taking deposits and making payments,” said Botin, according to the Financial Times.
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The Shifting Landscape of Fraud and Identity in 2024
Fintech News
JANUARY 17, 2024
This collaboration, while essential, requires careful navigation of legal frameworks to ensure effective and compliant information exchange. Regulatory changes are expected to support and clarify data-sharing processes, overcoming hurdles posed by regulations like the General Data Protection Regulation (GDPR).
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Singapore Bitcoin Exchange Startup Raises $16M
PYMNTS
JUNE 27, 2016
What that would do, of course, is put bitcoin in a regulatory framework that enables lawmakers to tax, regulate and monitor bitcoin transactions in a way that may give more legitimacy to the concept of the cryptocurrency. For now, there are no specific laws around bitcoin, which means bitcoin is already legal.
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The EBA amends its Guidelines on ICT and security risk management measures in the context of DORA application
Neopay
FEBRUARY 27, 2025
Competent authorities or Member States governments wishing to retain the approach set out in the EBA Guidelines for those PSPs can continue to do so under their national legal framework or supervisory measures.
Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures
The Payments Association
FEBRUARY 10, 2025
This legislation represents a significant shift in corporate accountability, aiming to strengthen the UKs legal framework against financial crime. The ECCTA is designed to enhance corporate transparency, combat economic crime, and impose stricter responsibilities on businesses to prevent fraud within their operations.
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