Tagged: consultation

UK’s Ofwat Calling on Fintech, Digital Sectors to Have their Say in Innovation Fund Consultation

Cambridge UK Punting Boats 2

Following a year-long pilot that has seen over £43 million awarded to innovation in the water sector, Ofwat – the water regulator for England and Wales – is “launching a consultation to seek views about how to continue this momentum.” The £200m Water Innovation Fund… Read More

Here is the UK Government’s Response to Consultation on Crypto, Stablecoins & Digital Ledger Technology

The City of London

The UK government commenced a consultation on crypto-assets in early 2021. This past week, the UK government indicated its intent to acknowledge stablecoins as valid forms of payment while aiming to emerge as the world’s top crypto hub. This stands in stark contrast to the… Read More

Bank of Russia Publishes Consultation on Crypto: Substantial Risks for Retail Investors and Mining

Red Square Moscow Russia

The Bank of Russia has published a consultation paper on “Cryptocurrencies: Trends, Risks and Regulation.” The central bank has published an executive summary which is available in English. According to the bank, Russian citizens are currently transaction around $5 billion in crypto per year. Meanwhile,… Read More

Basel Committee on Banking Supervision Initiates Consultation on Proposals for Treatment of Banks’ Digital Asset Exposures

Martinskirchplatz Basel Switzerland dorian le senechal unsplash

The Basel Committee on Banking Supervision, the main international standard-setter for the prudential regulation of banks and provides a forum for regular cooperation on banking supervisory matters (with 45 members comprising central banks and bank supervisors from 28 jurisdictions), has initiated a public consultation on… Read More

Federal Reserve Opens Consultation on Access to the Payments System

Lael Brainard

The US Federal Reserve Board has proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks. In a public statement, the Fed said the introduction of new financial products, such as products introduced by Fintechs including novel types of banking charters,… Read More

Here are the Results of the European Consultation on a Digital Euro, Privacy is the Top Request

Euro Europe Money Inspect Red

Back in October of 2020, the European Union launched a consultation on the possibility of creating a central bank digital currency (CBDC) or digital euro. The results of the consultation will help guide the European Central Bank’s decision as to whether, or not, to launch… Read More

Open Banking Implementation Entity or OBIE Introduces its Variable Recurring Payments and Sweeping Consultation Phase II

Open Door Cambridge UK

The Open Banking Implementation Entity (OBIE) has introduced its variable recurring payments and sweeping consultation phase II. The OBIE, which was created by the UK’s Competition and Markets Authority, recently released its response and has made revisions to its proposals following the initial phase of… Read More

ECB Digital Euro Consultation: Over 8000 Responses, Many Privacy Concerns

Euro Money iPhone Digital Banking

The European Central Bank (ECB) reports that it has received 8221 comments regarding its consultation on a digital euro or central bank digital currency (CBDC).  Chief among the comments are privacy concerns as government ledgers for a digital currency raises serious questions about data control…. Read More

HM Treasury Kicks Off Consultation on Cryptoassets and Stablecoins

magnify scrutiny Look Review

At the end of last week, HM Treasury published a consultation on cryptoassets (digital assets) and stablecoins. An earlier consultation on cryptoasset promotions concluded on 26 October with results expected soon. The consultation is said to be the first stage in the government’s process concerning… Read More

SEC Posts Consultation on Custody of Digital Assets: Seeks Industry Feedback on Potential Future Action

Town Crier Announcement Manifesto Shout Explain

The Securities and Exchange Commission has issued a statement and request for comment regarding the custody of digital asset securities by broker-dealers. The Commission states that this consultation is in order to encourage innovation around the application of Securities Exchange Act Rule 15c3-3 to digital… Read More

National Crowdfunding and Fintech Assoc Canada Reminds Industry Participants of Deadline for Offering Feedback on Financial Sector Resilience Paper

Canada Flag Hockey Stick

The National Crowdfunding & Fintech Association (NCFA Canada), which supports a financial innovation ecosystem offering education, market intelligence, stewardship, networking and funding opportunities, has reminded industry participants that there’s only about a week remaining to provide comments on a consultation on technology risks in the… Read More

Broctagon CEO on Hong Kong’s Consultation on Regulating Crypto: A Positive for the Industry

Hong Kong Boat Junk Asia China Unknown Wong on Unsplash

Yesterday, the Hong Kong Government announced a consultation to enlist public opinion on legislative proposals designed to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulation in Hong Kong. Cryptoassets (digital assets) were included in the consultation with the introduction of a licensing regime for virtual… Read More

Monetary Authority of Singapore Posts Consultation Response Regarding Payments, Including Digital Payment Tokens

MAS Example of DPT Transfers Singapore

In 2019, the Monetary Authority of Singapore (MAS) launched a consultation on the Payment Services Act (PS Act) that in relation to AML/CFT, and other amendments in respect of digital payment token (DPT) service and certain technical amendments. The consultation address certain proposed amendments to… Read More

Hong Kong Government Launches Consultation on Regulating Cryptoassets

Hong Kong Money Sparkle AI

The Hong Kong Government has launched a consultation to gauge public opinion on legislative proposals designed to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulation in Hong Kong. The targets include cryptoassets (digital assets) with the introduction of a licensing regime for virtual asset services… Read More

HM Treasury Issues Consultations on Promotions of Cryptoassets as Well as Broader Regulatory Framework

Whitehall 10 Downing Street UK Government

HM Treasury has issued two public consultations today. One is a review of the current requirement for an authorized firm to approve the financial promotion of an unauthorized firm that may not operate as a strong enough safeguard to ensure such financial promotions are compliant… Read More

UK FCA Worried about Access to Cash as Bank Branches Shutter, ATMs Go Away

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The UK Financial Conduct Authority (FCA) has published draft guidance on their expectations for banks and availability to cash in a market that is seeing a growing number of bank branches closing and ATMs going away. The regulator states that it wants to ensure that… Read More

EU Consultation on Payments Strategy Deadlines for Comments on Friday

Euro Money iPhone Digital Banking

The European Union initiated a consultation on its retail payments strategy last April. The deadline for comments is this Friday, June 26, 2020. The consultation addresses the digitization of payments and the belief that Europe needs a “strategic vision to ensure that consumers and companies… Read More

Here is the EU’s Consultation on Digital Finance – Fintech Action Plan

50 Euros Europe Inspect Review Look

This month, the European Commission kicked off a consultation on the future of digital finance and Fintech. Simultaneously a consultation on payments was announced. The Fintech consultation opens by explaining the following: “Digitalisation is transforming the European financial system and the provision of financial services… Read More

Italian Ministry of Economy and Finance Begins Consultation on Evaluation Criteria for Fintech Projects

Pantheo Rome Italy

The Italian Ministry of Economy and Finance has reportedly begun a consultation on a Draft Decree on the evaluation criteria to test out Fintech projects in a sandbox environment. The ministry has appointed a Fintech Committee, which will be exploring various financial technology projects. The… Read More

Canada and Open Banking: Second Phase of Review is Announced

Canada Ministry of Finance What does Open Banking Mean

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

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