Tagged: consultation

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Monetary Authority of Singapore Commences Consultation on Digital Payment Tokens, E-Money

The Monetary Authority of Singapore (MAS), the securities regulator for the country, has commenced consultation on “E-money and digital payment tokens (DPTs).” Singapore is a well-recognized Fintech hub. Financial innovation in the country has been aided by the explicit support of policymakers including the leading… Read More

European Commission Launches Two Consultations, One on Crypto Assets, 2nd on Cybersecurity

Yesterday the European Commission announced the launch of two consultations. The first is on digital or crypto-assets including stablecoins. The second is on cybersecurity. The consultation on digital assets is due to President Ursula von der Leyen determination to keep abreast of innovation in the… Read More

UK Financial Conduct Authority Issues “Call for Input” on “Open Finance”

We have all heard about Open Banking, a mandate to require proactive API access to financial services while migrating control of all data and access back to consumers, now we have a movement for “Open Finance.” According to the Financial Conduct Authority (FCA), Open Finance… Read More

European Commission Looks to Boost the Development of DLT/Blockchain, Invites Participation in Open Market Consultation

The European Commission has invited interested parties to participate in an open market consultation for the forthcoming “European Blockchain Pre-Commercial Procurement (PCP).” The Commission’s goal is to boost the development of distributed ledger technology, or blockchain, for the European Blockchain Service Infrastructure. A “Pre-Commercial Procurement”… Read More

Digital Chamber of Commerce Comments on IOSCOs Consultation on Crypto Asset Trading Platforms: Balancing Regulation and Innovation

In May of 2019, the International Organization of Securities Commissions (IOSCO) kicked off a consultation on “crypto-asset trading platforms” or “CTPs.” The goal of the Consultation is to assist IOSCO members in evaluating the issues and risks relating to trading in digital assets and the… Read More

Here is the FCA Consultation Proposing the Ban of Cryptoasset Derivatives for Retail Investors

Earlier this month as previously reported, the UK Financial Conduct Authority (FCA) proposed a ban on the sale of both derivatives and exchange-traded notes (ETNs) based on “certain types of cryptoassets.” The announcement of the proposed ban kicked off a consultation, embedded below, for feedback… Read More

Ban Hammer: UK Financial Conduct Authority Proposes Prohibition of Crypto Derivatives

The UK Financial Conduct Authority (FCA) has proposed a ban on the sale of both derivatives and exchange-traded notes (ETNs) based on “certain types of cryptoassets.” This ban will impact retail investors. As part of the decision-making process, the FCA has commenced a public consultation… Read More

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