Politics, Legal & Regulation

February 5, 2020 @ 10:43 am By JD Alois  |  

According to the UK government, Cathryn Ross has been appointed as the first Chair of the new Regulatory Horizon Council, a government-supported committee to make certain UK regulation keeps pace with innovation and enables it to thrive while safeguarding the public. Ross is currently the… Read More

February 3, 2020 @ 9:52 am By JD Alois  |  

Open Banking means different things for different people – depending on the regulatory jurisdiction where you are standing. First championed by the UK, in brief, Open Banking can mean mandated APIs for financial services firms to facilitate interoperability and choice in a very secure manner…. Read More

February 3, 2020 @ 8:07 am By Omar Faridi  |  

Denis Pitcher, Chief Fintech advisor to the Premier of Bermuda, confirmed recently that the island country’s government has been focusing on encouraging blockchain and crypto adoption. Bermuda aims to enable greater financial inclusion with its national virtual currency in an area where residents are reportedly… Read More

February 2, 2020 @ 6:05 pm By Omar Faridi  |  

The Bank of Japan (BoJ), the nation’s central bank, has been working on a virtual currency project for several years. The BoJ must be prepared to issue digital currencies if technical innovations in international settlement systems will increase consumer demand, the bank’s deputy governor noted… Read More

February 2, 2020 @ 6:03 pm By JD Alois  |  

On Wednesday, February 5th at 10AM, the House Financial Services Committee will hold a hearing entitled, “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Caps.” The Hearing will most certainly address the emergence of Fintechs, specifically online… Read More

January 31, 2020 @ 6:02 am By Omar Faridi  |  

Dr. Heath P. Tarbert, chairman and chief executive at the US Commodity Futures Trading Commission (CFTC), recently stated that he would like to see the United States lead the charge when it comes to adopting digital currencies and blockchain or distributed ledger technology (DLT). During… Read More

January 30, 2020 @ 4:25 am By Omar Faridi  |  

  India-based non-for-profit organization, the National Institute for Smart Government (NISG), has reportedly proposed issuing a digital Indian rupee in its draft National Strategy on Blockchain. A central bank digital rupee, or CBDR, would be issued and managed on a permissioned (private) blockchain network, where… Read More

January 29, 2020 @ 9:21 am By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee has published its agenda for the forthcoming meeting taking place on February 4th. According to the SEC, the committee will explore funding gaps that impede growth opportunities for entrepreneurs and job creators. The… Read More

January 29, 2020 @ 8:07 am By Omar Faridi  |  

The Israeli Securities Authority (ISA) has reportedly issued a Request For Information in order to identify regulatory policies that could hinder the ongoing development of distributed ledger technology (DLT)-focused projects in Israel. The country’s regulator is also planning to look closely into the potential use… Read More

January 28, 2020 @ 1:54 am By Omar Faridi  |  

Zipmex, a Singapore-based crypto-asset exchange focused on offering retail and institutional investors the ability to make secure investments in cryptocurrencies, has reportedly acquired an operational license in Thailand, awarded by the Asian country’s Securities and Exchange Commission (SEC). The Zipmex crypto trading platform currently offers… Read More

January 27, 2020 @ 5:54 pm By Omar Faridi  |  

The Bank of Thailand is reportedly considering issuing licenses to digital banks, which aim to provide greater financial inclusion while catering to changing consumer requirements in the digital age. New Fintech industry participants are encouraging competition and disruption in Thailand’s banking sector. These startups aim… Read More

January 27, 2020 @ 4:53 pm By Omar Faridi  |  

Chinese e-commerce company Zall Smart Commerce Group will establish operations in Singapore’s evolving financial industry. Zall’s management noted that the firm is part of a consortium that’s applying for a digital wholesale banking license in Singapore. Global eTrade Services, a CrimsonLogic Pte division, and Marubeni… Read More

January 26, 2020 @ 10:17 am By JD Alois  |  

Last week, the Wall Street Blockchain Alliance (WSBA), in partnership with the global law firm of Linklaters, hosted a forum on dealing with investigations or inquiries from the Securities and Exchange Commission (SEC). Enforcement actions or investigations by the SEC in the world of securities… Read More

January 25, 2020 @ 10:30 am By Omar Faridi  |  

A group of around 70 Japanese lawmakers from the nation’s ruling Liberal Democratic Party is reportedly preparing a proposal that recommends issuing a virtual currency. Norihiro Nakayama, a member of the party and parliamentary vice-minister for foreign affairs, stated (on January 24): “China is moving… Read More

January 25, 2020 @ 9:56 am By Omar Faridi  |  

Five lawmakers from the US state of Hawaii have proposed a new bill asking to give permission to financial institutions to offer custody services for digital assets. If the proposed Senate bill 2594 is approved, then it would become legal for Hawaii’s banks to custody… Read More

January 24, 2020 @ 12:51 pm By Omar Faridi  |  

New Jersey-based NICE Actimize, a subsidiary of Israel-headquartered NICE Ltd, recently confirmed that CipherTrace, a leading provider of digital currency intelligence and blockchain security, has joined the X-Sight Marketplace – which is an established platform for combating financial crime and ensuring compliance. The X-Sight Marketplace… Read More

January 24, 2020 @ 11:50 am By JD Alois  |  

The Financial Conduct Authority’s Executive Director of Strategy and Competition, Christopher Woolard, has been selected as the Interim Chief Executive of the FCA. HM Treasury announced the appointment today as current FCA Chief Executive Andrew Bailey has been tapped to take over the role of… Read More

January 24, 2020 @ 6:07 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) and the Bank of England (BoE) will reportedly be running a public/private forum that will go into the relevant technical and public policy issues related to bank adoption of artificial intelligence (AI) and machine learning (ML) technologies and software…. Read More

January 23, 2020 @ 3:06 pm By JD Alois  |  

Outspoken entrepreneur and CEO of Prime Trust Scott Purcell has shared his thoughts on the Securities and Exchange Commission’s (SEC) proposal to modernize the current definition of an accredited investor. At the moment, an accredited investor in the US is measured by a wealth metric…. Read More

January 22, 2020 @ 10:18 pm By JD Alois  |  

Taiwanese Congressman and crypto advocate Jason Hsu delivered a speech on AML requirements at the EmTech Investment Meeting 2020 held at Davos this week.  Hsu is also the co-founder and APAC Spokesperson for the Global Blockchain Policy Council of Legislators. Hsu has been vocal on… Read More