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 
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.
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.
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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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.
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.
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.
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.
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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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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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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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.
The EBA issues ‘travel rule’ guidance to tackle money laundering and terrorist financing in transfers of funds and crypto assets
Neopay
JULY 18, 2024
The Regulation recasts Regulation (EU) 2015/847 and brings the EU’s legal framework in line with the Financial Action Task Force (FATF)’s standards by extending the obligation to include information about the originator and beneficiary to CASPs – the so-called ‘travel rule’.
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ESAs publish Joint Annual Report for 2023
Neopay
JUNE 24, 2024
DORA mandated the ESAs to develop several policy products before its application date of January 17, 2025, to supplement the legal framework. Digital Operational Resilience The implementation of the new Digital Operational Resilience Act (DORA) was central to the Joint Committee’s work in 2023.
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.
Verto using Resistant AI to significantly enhance their document verification process for cross-border payments and FX solutions
Fintech Finance
FEBRUARY 15, 2024
It is necessary to authenticate an extensive range of documents across diverse formats which can include PDFs, images or scans which originate from multiple countries with unique legal frameworks and documentation standards.
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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117 Project mBridge Reaches MVP Stage, Expands International Participation
The Fintech Times
JUNE 6, 2024
The platform now includes a governance and legal framework, tailored to its decentralised nature, enabling real-value transactions and compatibility with the Ethereum Virtual Machine. The platform supports real-time, peer-to-peer transactions and foreign exchange operations, using the mBridge Ledger, a new blockchain infrastructure.
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Bank of France presents CBDC progress, sets next steps
The Paypers
DECEMBER 14, 2020
Bank of France Deputy Governor has presented the progress being made with the central bank digital currency (CBDC) and touched upon possible regulatory changes and the legal framework.
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Etherfuse Raises $3M to Bring Emerging Market Debt On-chain
Fintech Review
JULY 22, 2024
Etherfuse has undertaken extensive regulatory efforts in Mexico and aims to use this unique legal framework to establish itself as a leading global platform for compliant tokenized assets. Ultimately, Etherfuse aims to become the largest compliant issuer of a tokenized assets from across the globe.
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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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69 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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Australia Unlikely To Expand Borrower Protections To SMBs
PYMNTS
OCTOBER 1, 2018
“The evidence and submissions provided to the commission did not reveal any great appetite to change the legal framework,” Commissioner Kenneth Hayne said in his interim report, according to the Australian Financial Review. “In
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 global impact of money laundering in 2024
Neopay
JULY 18, 2024
The European Union’s 6th Anti-Money Laundering Directive (6AMLD) has enhanced the legal framework, increasing penalties and expanding the scope of predicate offenses. In contrast, emerging markets in Asia and Africa face significant challenges due to weaker regulatory frameworks and limited resources.
The Fifth AML Directive extends to cryptocurrencies
The Paypers
SEPTEMBER 19, 2018
(The Paypers) The Fifth Anti-Money Laundering Directive (MLD5) entered into force in July 2018 and updates the legal framework under the Fourth Anti-Money Laundering Directive (MLD4).
AI Risks and Opportunities for Insurance: An Evening With DLA Piper
The Fintech Times
APRIL 8, 2024
Regulatory hurdles and compliance intricacies emerged as focal points, with speakers exploring the complex landscape of legal frameworks governing AI including the EU AI Act and the UK regulator’s approach to AI regulation, highlighting the importance of understanding forthcoming regulatory changes and their implications.
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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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49 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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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.
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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Responsible AI: Are European Firms Ready for the Regulators?
FICO
MARCH 7, 2023
The EU Sets Out the First Legal Framework for AI Regulation In April 2021, the European Commission and EU member states kicked off a coordinated plan placing Europe on a path to becoming a global leader in cutting-edge, trustworthy artificial intelligence.
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The EBA consults on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes
Neopay
NOVEMBER 27, 2023
The recast brings the EU’s legal framework in line with the Financial Action Task Force (FATF)’s standards by extending the obligation to include information about the originator and beneficiary to CASPs – the so-called “travel rule”.
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.”
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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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
FTC Discusses Antitrust Laws In Testimony To US Senate
PYMNTS
SEPTEMBER 24, 2019
Hoffman explained that the agency used this legal framework in its 2017 case against Questcor, alleging that the company illegally maintained its U.S. In addition to the Clayton Act, the Sherman Act prohibits a firm from gaining or maintaining a monopoly position through anticompetitive conduct.
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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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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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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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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)
Em Conversa: Investing in LatAm Fintechs With HTwenty
The Fintech Times
JULY 2, 2024
There are political shifts, economic reforms, and efforts to modernise outdated legal frameworks. Also, in fintech and various other industries, regulatory frameworks governing digital payments, cybersecurity, and data privacy can differ vastly across borders within the region.
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From Kalifa to Wandhöfer: Propelling the UK’s Digital Renaissance with Ubiquitech
The Fintech Times
MARCH 23, 2024
Together, they propose a shift in data management and usage, highlighting the distinctiveness inherent in digital representations and advocating for a revised approach to legal frameworks.
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Young Bitcoin Trader Indicted On Money Laundering Charges
PYMNTS
AUGUST 20, 2018
Said prosecutors in their own document announcing the charges: “Burrell’s activities ‘blew a giant hole’ through the legal framework of U.S. In another allegation against Burrell, he evaded reporting requirements by attempting to smuggle as much as $1 million from Mexico into the U.S.
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