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.
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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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 certification confirms that Akurateco meets all legal and regulatory requirements for scaleup status in Portugal. The recognition comes after the company successfully met all criteria outlined in Law No.
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.
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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.
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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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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India’s Pharmacists Call For Shutdown Of Amazon Entry
PYMNTS
AUGUST 17, 2020
We also have a full dossier ready on this subject and entering this space can bring on legal implications which can bring disrepute to Amazon’s name.” The legal framework surrounding Amazon’s move is complicated by the general muddy state of drugstore regulation in India.
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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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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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Ultimate Guide to Surcharges: What is a Surcharge and How Does It Work
Stax
FEBRUARY 5, 2024
Healthcare providers, for instance, may factor in compliance costs spent on cybersecurity measures, staff training, regular audits, and legal consultations to ensure adherence to health information privacy regulations. Be aware of restrictions and guidelines in your business jurisdictions to avoid legal repercussions.
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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.
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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Lawmakers Push To Fast-Track Crypto Regulation
PYMNTS
JULY 7, 2019
Congress “is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.”. is falling behind: Japan and Switzerland have developed legal frameworks that have attracted cryptocurrency projects and investment. Not only that, but the newspaper said the U.S. The move comes as U.S.
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Best eCommerce Sites (CMS) for CBD Business
Segpay
SEPTEMBER 30, 2023
CBD’s unique legal status allows it to be sold online, unlike other cannabis-related products. This comprehensive guide will explore the world of selling CBD online, covering everything from the legal landscape to choosing the right eCommerce platform and getting started in this thriving industry. THC (tetrahydrocannabinol).
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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.
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.
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.
Trade Finance Poised for Digital Revolution Though Obstacles Remain
Fintech News
FEBRUARY 14, 2024
But despite some progress, advancements have been slow for the past few decades due to legal obstacles, the lack of standards, and the need for unifying technologies, a new paper by Deutsche Bank says. Nimble progress According to the report, banks have done a considerable amount to collectively unlock digital trade.
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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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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.
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 Much more often than not, the conduct now condemned was contrary to law. What would that gain?”
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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59 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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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
Legal basis, background In July 2021 the European Commission issued a legislative package with four proposals to reform the EU’s legal and institutional AML/CFT framework. All contributions received will be published following the end of the consultation, unless requested otherwise.
EU Commission advised to establish a single rulebook on fighting money laundering and terrorist financing
The Paypers
SEPTEMBER 11, 2020
The European Banking Authority (EBA) has published its response to a European Commission’s call for advice on how to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
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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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.
Lawmakers Push To Fast-Track Crypto Regulation
PYMNTS
JULY 7, 2019
Congress “is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.”. is falling behind: Japan and Switzerland have developed legal frameworks that have attracted cryptocurrency projects and investment. Not only that, but the newspaper said that the U.S.
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Understanding Payment Processing Compliance When Implementing Credit Card Surcharging
Stax
JANUARY 15, 2024
Failure to comply with its policy frameworks can have severe consequences— legally and financially. In the following sections, we’ll delve into the legal framework, compliance standards, and best practices to navigate the complexities of surcharging. Swipe fees have doubled in a decade and increased by 20% since 2022.
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88 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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Chargeback Rules: What Laws & Regulations Govern the Dispute Process?
Fi911
JANUARY 4, 2024
Well, from a legal standpoint, there’s actually quite a lot. Certain regulations known as “chargeback rules” are, in fact, based on legal statutes. While they are not legal mandates, they are enforced with the same rigor. What do banks need to know about the chargeback legislation process?
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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).
Website Liability Reform Worries Smaller Players
PYMNTS
DECEMBER 23, 2020
“Review sites such as Tripadvisor could easily become nothing more than only-positive advertising glimpses” because “hosting critical or negative views would create a substantial risk of legal liability,” Tripadvisor said in a filing , per Bloomberg. We support legal frameworks that achieve these goals.”.
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.
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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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. Congress, too, is considering at least three bills that would resolve some of the murky legal issues surrounding digital money. Facebook chose to incorporate the group that will govern Libra in Switzerland.
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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 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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