Topic: Fintech

BIS innovation hub extends reach with four new centres

The Bank for International Settlements has announced the launch of four new innovation hub centres across Europe and North America, as it intensifies its research into fintech for central banks.

01 July 2020

BaFin “rocked asleep” by Wirecard hype

German regulator BaFin is facing questions over its supervision of fintech company Wirecard, which announced on Monday that €1.9 billion had vanished from its balance sheet.

24 June 2020

Covid-19 pushing CBDC development “into top gear”

The covid-19 pandemic is accelerating central banks’ development of their own digital currencies, senior figures in the Bank for International Settlements and Bank of England have said– as their counterparts in Canada, South Korea and Thailand all announce their own moves in the space.

19 June 2020

OCC canvasses fintech rule updates

The US Office of the Comptroller of the Currency has signalled its intention to update its rules on banks’ digital activities, a week after unexpectedly coming under the leadership of a comptroller with a background in the crypto world.

05 June 2020

Brazil holds off from issuing banking probe fines

Six banks will face continued investigation in Brazil for denying services to cryptocurrency brokers, with authorities saying they need more analysis before deciding whether to begin formal proceedings.

27 May 2020

BIS hires in Basel and Hong Kong

The Bank for International Settlements has hired a new deputy head of banking, and a head for its new innovation hub’s Hong Kong office.

22 May 2020

Regtech race hots up with Saudi and UAE initiatives

The G20’s Saudi presidency has announced a “hackathon” competition for regtech providers, as the United Arab Emirates pilots a new AI-led licence review scheme.

29 April 2020

New Brazilian blockchain platform promises easier path to foreign bank entry

Brazil’s central bank has launched a data-sharing blockchain platform, in a move that has been touted to facilitate foreign banks setting up shop in the country.

21 April 2020

Scaled-down Libra seeks FINMA approval

Facebook’s cryptocurrency project Libra has filed for regulatory approval in Switzerland – dropping plans for a Bitcoin-like permissionless system and adding a single-currency coin.

17 April 2020

World Bank weighs in on financial inclusion and fintech

The World Bank has urged regulators to foster the inclusion of underserved users of the financial system when designing regulatory sandboxes and innovation hubs.

17 April 2020

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