Tagged: european union

Nina Stoyanova from Bulgarian National Bank Says Digital Technologies have Improved the Financial Services and Payments Sector

Nina Stoyanova, Deputy Governor and Head of the Banking Department of the Bulgarian National Bank, has noted that digital technologies have significantly changed the financial services provision business, and the payment sector is “the leader in this trend.” Stoyanova notes that the overall speed of… Read More

Dr. Joshua Ellul: Chairman of Malta Digital Innovation Authority Explains how AI, IoT, Blockchain based Smart Contracts are Improving Digital Economy

We recently caught up with Dr. Joshua Ellul, the Chairman of Malta Digital Innovation Authority and Director of Centre for DLTs, University of Malta. Dr. Ellul discussed how blockchain-based smart contracts are streamlining routine business processes. He also talked about his research interests which include… Read More

UK Banks Say they Need to be “Liberated” to Invest in IT to Defend Against Fintech Challengers, Big Tech, US Banks

The Bank of England (BoE) is getting ready for its first major break from European Union regulations with a new proposal that might make bank capital rules a lot more strict in the UK (when compared to other jurisdictions). The European Banking Authority had noted… Read More

France: AMF Chairman Embraces EC Move to Regulate Crypto Assets, “Potential gains to be expected from DLT can be significant”

Speaking about the ongoing digital transformation of financial services the Chairman of the French Autorité des Marchés Financiers (AMF), Robert Ophèle, commented on the emergence of crypto assets (digital assets) for both non-securities and securities. Ophèle first noted the ongoing COVID health crisis has helped… Read More

New Data Regulation to Draw on Notions of Privacy, Data Localization Another Key Trend in 2021, According to Blockchain Professional

Li Jun, Founder of Ontology and the SAGA Protocol, notes that we’re now living through an “activist period” of data regulation that will most likely dictate how our economies function for “generations to come.” Jun pointed out that most industries have “precedents” for regulation that… Read More

European Online Lending Platform October Warns Financial Crimes are on the Rise following COVID Outbreak including Money Mules

European online lender October recently alerted consumers about the money muling fraud. The company explained what usually takes place when bad actors carry out these fraudulent activities and shares tips to avoid getting scammed. October notes that if you’re being offered “opportunities” to make easy… Read More

Open Banking Services being Used by Over 2.5 Million UK Consumers and Businesses to Complete Payments: Report

Banking Circle, a financial infrastructure developer, notes that only a month into the new year, and partnerships are already beginning to emerge as “a strong theme underpinning the future of the industry.” Banking Circle also confirmed that they’ve teamed up with global provider of local… Read More

A Discussion with Oliver Gajda of the European Crowdfunding Network: Expect Platform Consolidation & Cross Border Expansion

The European Crowdfunding Network (ECN) has long been the leading voice advocating on behalf of investment crowdfunding platforms across Europe. The member-driven group has been at the forefront of engaging with policymakers at the European Commission – an initiative that finally paid off when new… Read More

UK – EU Reach Trade Deal for Christmas

The United Kingdom and the European Union have reached a trade deal just in time for Christmas. The UK government said they have agreed on a zero tariff-free trade deal including a commitment to maintaining high labor, environment, and climate standards without giving the EU… Read More

European Commission Agrees on €7.5 Billion Budget for Digital Europe: Goal is to improve Europe’s Competitiveness in the Global Digital Economy

The European Commission (EC) has come to an agreement on the €7.5 billion budget for the Digital Europe program. The goal is to “improve Europe’s competitiveness in the global digital economy and achieve technological sovereignty.” The EC said it seeks to support the digital transformation… Read More

UK Fintechs Can Establish Stronger Market Presence if they Adopt Better Open Banking Policies, According to Ian Liddell-Grainger

Ian Liddell-Grainger, who’s Chair of the All-Party Parliamentary Group on Open Banking and Payments in the UK, notes that Britain’s financial technology industry has been expanding rapidly with emerging Fintechs such as Monzo, Starling, Revolut and TransferWise. Ian points out that these companies are turning… Read More

Don’t Treat Everything Like a Financial Instrument: 5 Questions Commenters Must Consider About MiCAR (with Proposed Answers!)

MiCar: Markets in Crypto-Assets Regulation. Everyone seems to forget that blockchain is a database software at its core; better database software to be sure because it makes digitally unique items (known as “crypto-assets” or “digital assets”) possible in a transparent, auditable, and secure system, but… Read More

UK Chancellor Rishi Sunak Says Financial Services Sector will be Key to the Nation’s Economic Recovery

UK Chancellor Rishi Sunak updated the House (on November 9, 2020) regarding ongoing plans for the country’s financial services industry, which is one of the “most productive and innovative sectors.” Sunak believes that financial services will be essential to the UK’s economic recovery from the… Read More

European Crowdfunding Network Publishes Blockchain Study Analyzing Current Regulatory Environment

Following a big win at the European Commission in regards to the harmonization of investment crowdfunding rules, the European Crowdfunding Network (ECN) has published a report analyzing European blockchain regulation. Crafted in partnership with the law firm of Denton’s, the ECN report reviews the European… Read More

UK Fintech Modulr Reveals that its Dublin based Entity Is Now Licensed as EMI by Central Bank of Ireland

UK-based Modulr, a Payments as a Service API Platform for digital businesses, has revealed that its Dublin-based entity is now licensed as an electronic money institution (EMI) by the Central Bank of Ireland. The Modulr team noted: “This is an important step in enabling our… Read More

Oliver Gajda of the European Crowdfunding Network: An 8 Year Journey for Harmonized Crowdfunding Rules

Earlier this month, the European Union approved new crowdfunding rules, including a €5 million funding cap, that will apply to all member states finally creating a pan-European approach to online capital formation. Currently, the securities crowdfunding market in Europe struggles under bespoke national rules that… Read More

European Banking Authority to Allow Banks to Include Software based Assets in their Capital Requirement Estimates

The European Banking Authority, a regulatory body of the European Union that’s headquartered in Paris, has revealed plans to allow banks to include software-based assets in their capital requirement calculations. This should help lenders with strengthening their safety buffers, the agency noted. At present, banking… Read More

European Crowdfunding Network “Wholeheartedly” Welcomes Harmonized Crowdfunding Rules for Europe

Earlier this week, the European Union approved legislation that will harmonize securities crowdfunding rules for member states. Inclusive in the legislation is a 12-month funding cap of €5 million for issuers leveraging online capital formation. The goal is to facilitate capital formation for entrepreneurs and… Read More

European Union Approves New Crowdfunding Rules that Apply to Member States, Funding Cap Set at €5 Million

Earlier today, the European Union approved crowdfunding rules that will apply to all member states thus finally offering a pan-European approach to online capital formation while removing much of the friction in the current ecosystem that suffers from regulatory fragmentation. Industry participants, along with industry… Read More

European Union Digital Asset Legislation Anticipated to Create Confidence, Open the Market to DLT Innovators

A Discussion with Franck Guiader of Gide 255 Last week, the European Commission adopted a Digital Finance Package along with legislative proposals on cryptoassets (digital assets). The move had been widely telegraphed by the Commission and, in fact, a draft of the crypto regulation was leaked… Read More

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