Tagged: consultation

August 20, 2023 @ 4:37 pm By Omar Faridi  |  

The Payment Systems Regulator (PSR) has launched two consultations in the lead up “to the implementation of its new authorised push payment (APP) fraud reimbursement requirements. ” In June, the PSR set out its final position on “tackling APP fraud, which will mean the vast… Read More

August 10, 2023 @ 8:54 am By JD Alois  |  

The Government of Ireland has submitted its own consultation on possible regulation of digital assets or crypto. The European Union has approved crypto asset regulation under MiCA. Ireland, part of the EU, is flexing its prerogative to present its own consultation on possible regulation or… Read More

May 23, 2023 @ 3:32 pm By JD Alois  |  

The International Organization of Securities Commission (IOSCO) has published a paper making policy recommendations on dealing with digital assets or crypto. The consultation incorporates 18 different recommendations that IOSCO states it will finalize during the last quarter of this year. IOSCO published a digital asset… Read More

May 1, 2023 @ 8:20 am By Omar Faridi  |  

CryptoUK, which claims to be the “trusted” voice of the UK crypto industry, has published a detailed response to His Majesty’s Treasury’s (HMT) Future Financial Services Regulatory Regime for Cryptoassets consultation paper. Consultation proposals “included strengthening rules for crypto trading platforms and a robust world-first… Read More

April 3, 2023 @ 9:56 pm By Omar Faridi  |  

The Central Bank of Bahrain has issued amendments to its Crypto-assets (“CRA”) Module in March 2023, “following a consultation process with the industry stakeholders.” The amendments aim “to cater to the ongoing developments in the crypto-assets markets and comply with the industry best practices while… Read More

February 21, 2023 @ 10:55 pm By Omar Faridi  |  

The Securities and Futures Commission (SFC) launched a consultation on the proposed requirements “for operators of virtual asset trading platforms.” Under a new licensing regime to take effect on 1 June 2023, all centralized virtual asset trading platforms “carrying on business in Hong Kong or… Read More

February 7, 2023 @ 12:34 pm By JD Alois  |  

HM Treasury and the Bank of England have announced a new consultation on the possibility of a digital pound. According to a joint statement, The consultation is being launched as the UK government wants to ensure the public has access to “safe money” while supporting… Read More

February 5, 2023 @ 1:50 pm By Omar Faridi  |  

The Hong Kong Monetary Authority (HKMA) issued the consultation conclusion to the discussion paper on crypto-assets and stablecoins (the “Consultation Conclusion”), summarizing the feedback “received in relation to the paper and the HKMA’s response.” In the Consultation Conclusion, the HKMA proposes “to bring certain activities… Read More

August 21, 2022 @ 9:10 pm By Omar Faridi  |  

The Communications Regulatory Authority (CRA) launched a public consultation about the “National Blockchain Blueprint for Qatar,” which was collaboratively “developed by CRA, Hamad Bin Khalifa University, and Qatar University, with the aim of receiving the views and comments of stakeholders and concerned parties in Qatar on… Read More

August 7, 2022 @ 8:25 pm By Omar Faridi  |  

The Consumer Credit Oversight Board Task Force in Malaysia recently shared the Consumer Credit Act consultation document, which is the new act that aims to properly regulate and consolidate all consumer credit activities under its unit, and to also support “fair” lending and “responsible” conduct… Read More

July 7, 2022 @ 8:07 am By Omar Faridi  |  

HM Treasury had introduced a consultation in July of last year, entitled “Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Statutory Instrument 2022.” This consultation outlined how the UK Government intended “to amend the UK’s Money… Read More

April 11, 2022 @ 11:32 pm By Omar Faridi  |  

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

April 5, 2022 @ 10:07 pm By JD Alois  |  

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

January 24, 2022 @ 5:01 pm By JD Alois  |  

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

June 15, 2021 @ 3:17 am By Omar Faridi  |  

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

May 5, 2021 @ 10:31 pm By JD Alois  |  

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

April 23, 2021 @ 10:08 am By JD Alois  |  

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

January 29, 2021 @ 2:21 pm By Omar Faridi  |  

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

January 14, 2021 @ 3:54 pm By JD Alois  |  

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

January 11, 2021 @ 11:01 am By JD Alois  |  

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