PYMNTS

JANUARY 26, 2021

When it comes to the Chinese government and its regulators, it’s hard to read the tea leaves. Speaking at a World Economic Forum panel, Yi said the matter was “complicated” and what was needed was a clear legal framework. “I But it is also a major Chinese lender , and that has attracted negative attention from regulators.

Legal Framework 95

Legal Framework Regulations Central Bank Privacy 95

The Payments Association

DECEMBER 9, 2024

The upcoming changes in cryptocurrency regulation and its impact on payment services, focusing on the UK’s approach compared to the EU. The UK government and the FCA will further develop and implement these regulations through consultations and legal frameworks, aiming for a comprehensive rollout by 2026.

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Stablecoins Rules Consulting Regulations 88

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 51

Regulations Legal Framework Cryptocurrency Bitcoin 51

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. The move acts as a statement of Bybit’s goal to adhere to local regulations, all the while providing a secure and compliant platform for its users.

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Legal Framework Cryptocurrency Money Laundering Card Issuer 64

Open Banking Excellence

SEPTEMBER 27, 2024

Half a decade ago, Mexico demonstrated its ongoing commitment to updating its financial regulation with the introduction of the Fintech Law. Such regulatory framework serves as a solid foundation for the progression of Open Banking, guaranteeing a safer and standardised environment. of households, while Internet penetration is 62.9%.

Financial Inclusion 147

Financial Inclusion FinTech Laws Regulations 147

PYMNTS

MAY 24, 2018

Some of the biggest banks in Europe are urging regulators to increase oversight of large technology companies that are moving into the financial services market. He said they are another way to take deposits from customers — and as a result, should be regulated the same way. The magic word here is wallet.

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Regulations Legal Framework Rules Legal 55

PYMNTS

APRIL 12, 2019

The General Data Protection Regulation (GDPR) represented a new phase in data security and EU regulators’ approach to it. “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.”

Cybersecurity 77

Cybersecurity Data Breach Breach Legal Framework 77

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. The comments came as regulators in Denmark, Estonia, Britain, and the U.S. are investigating $228.5

Money Laundering 73

Money Laundering Central Bank Legal Framework AML 73

The Fintech Times

MARCH 14, 2024

Thus far, the primary focus in many jurisdictions has been to regulate and impose enforcement-related sanctions on some of the practical applications of this asset class from a regulated financial services perspective.

Laws 69

Laws Legal Legal Framework Cross-Border 69

PYMNTS

NOVEMBER 20, 2020

News came this week that a (virtual) meeting between regulators and Big Tech – which would center on draft proposals that might impact their very operations on the Continent –has been postponed briefly from Nov. For Big Tech, there’s just a hint of a bit of a reprieve in Europe. 24 to Dec 2. As noted by Yahoo!

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PYMNTS

FEBRUARY 6, 2020

Hester Peirce, a financial regulator at the U.S. Tech firms will have to create a transition plan after a three-year period that illustrates whether the digital coins will be able to be traded in a “decentralized” framework. The proposal must be subject to a period of public consultation before it can be put into practice.

Laws 72

Laws Security Legal Framework Regulations 72

Stax

FEBRUARY 5, 2024

They can be variable or fixed, depending on company policy, industry standards, and local regulations. They can be variable or fixed, depending on company policy, industry standards, and local regulations. Governments impose regulations to protect the public’s interests and promote fair corporate practices.

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

Fintech News

JANUARY 17, 2024

Regulations bring liability changes Regulators across APAC are updating regulations to protect consumers from evolving scam tactics. In 2023, the UK’s Payment System Regulator (PSR) introduced a 50-50 liability model requiring sending and receiving banks to share responsibility for scam losses equally.

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Deepfake APACS Scams Authentication 123

The Fintech Times

JANUARY 18, 2024

L’Autorité des Marchés Financiers (AMF), the French financial markets regulator, approval means Gemini can offer its products to retail and institutional users across France as the final preparations for a French Gemini platform are implemented. This will make France the thirteenth EU country in which the crypto exchange is approved.

Legal Framework 69

Legal Framework Cross-Border Regulations Settlement 69

PYMNTS

OCTOBER 1, 2018

Business lending in Australia probably won’t face tougher loan regulation when it comes to small business loans. 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

Legal Framework 54

Legal Framework Small Business Legal Laws 54

Stax

JANUARY 15, 2024

Failure to comply with its policy frameworks can have severe consequences— legally and financially. Surcharging involves understanding federal laws, state-specific restrictions, and international regulations. Be sure to understand federal laws, state regulations, and international standards to sidestep potential legal issues.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

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.”.

Federal Trade Commission 76

Federal Trade Commission Legal Framework Laws FTC 76

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.

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AI Regulations Legal Framework Non-Bank 52

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

Fintech News

JULY 17, 2024

These figures underscore the immense challenge facing regulators and law enforcement agencies in their efforts to curb illicit financial flows in the crypto space. This includes harmonising regulations across jurisdictions, sharing intelligence, and conducting joint operations.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

PYMNTS

NOVEMBER 4, 2016

It’s much tougher to legitimize and regulate it. Elsewhere in the world, officials continue actively seeking legitimacy and regulation for bitcoin. Switzerland’s new plans to loosen regulations on FinTech firms to boost competition include addressing the legal treatment of virtual currencies and assets.

Bitcoin 76

Bitcoin Digital Currency Law Enforcement Legal Framework 76

PYMNTS

SEPTEMBER 2, 2019

3 hearing advises that system-wide governance should be established to regulate virtual asset service providers (VASPs), CoinTelegraph reported Monday (Sept. Although regulation could make it hard for some crypto firms to continue operations, Murray said it’s not the BSA’s job to accommodate everyone. financial system.

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Regs BSA Legal Framework Cryptocurrency 49

Neopay

JULY 18, 2024

Background In June 2023, Regulation (EU) 2023/1113 entered into force. It also amends Directive (EU) 2015/849 to subject CASPs, which are authorized in accordance with the Regulation (EU) 2023/1114 to the same AML/CFT requirements and AML/CFT supervision as credit and financial institutions.

Travel Rule 52

Travel Rule Money Laundering Rules Finance 52

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.

Bitcoin 64

Bitcoin ATM Legal Framework Digital Currency 64

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.

APACS 59

APACS Legal Framework Finance Cross-Border 59

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.

API 76

API B2B Payment APIs and Integration Legal Framework 76

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.

AI 59

AI Risk Legal Framework Use Case 59

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.

Money Laundering 52

Money Laundering Consulting Finance Travel Rule 52

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).

Legal 52

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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.

Disputes 61

Disputes Legal Framework Small Business Governance 61

PYMNTS

JUNE 10, 2020

COVID-19’s spread and related lockdowns have highlighted the need for legal reform in this area. Cottrell Title & Escrow has observed the ways in which the COVID-19 pandemic has impacted interest in RON services and the adoption of laws regulating how they are used. RON services were legal in 23 U.S.

Legal 52

Legal Money Laundering Legal Framework On-Demand 52

Neopay

JULY 18, 2024

Nordic Region: Countries like Finland, Sweden, Iceland, and Norway rank among the lowest for laundering risk, thanks to stringent regulations and innovative solutions. Europe, for example, continues to lead in the implementation of stringent AML regulations.

Money Laundering 52

Money Laundering AML Crime Cryptocurrency 52

Segpay

MAY 1, 2024

DORA entered into force on January 16th, 2023, and its legal implementation deadline is January 17 th , 2025. The Act will help regulators to identify and investigate financial crime more effectively. These risks can have legal, financial, reputational, and operational consequences for the PSP.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

PYMNTS

SEPTEMBER 11, 2019

“Under that three-part test, arguably the highest bar is that a company must prove that contractors are doing work ‘outside the usual course’ of its business,” Tony West, Uber’s chief legal officer, said on a call with reporters. Lyft spokesperson Adrian Durbin had slightly more pointed words about the new law.

Economy 65

Economy Laws Legal Framework Legal 65

Neopay

JUNE 24, 2024

Key deliverables included policy products for the implementation of the Digital Operational Resilience Act (DORA) and ongoing work related to the Sustainable Finance Disclosure Regulation (SFDR). DORA mandated the ESAs to develop several policy products before its application date of January 17, 2025, to supplement the legal framework.

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Legal Framework Financial Literacy Consumer Protection Risk Assessment 40

PYMNTS

MARCH 9, 2020

That convergence, too, means that investigations must take a holistic approach to gathering data and insight, which can then be used to build a body of evidence that can adjust the legal frameworks that attack the very networks supporting illegal firearms activity.

PayPal 70

PayPal Financial Crimes Crime Law Enforcement 70

FICO

MAY 13, 2021

Last month, the European Commission issued a new legal framework for AI , designed to make the European Union a centre of excellence for trustworthy AI. The new rules divide AI systems into different categories of risk (based on the impact of an error in the AI system) and impose restrictions and requirements based on that risk.

AI 52

AI Legal Framework Risk Compromise 52