Topic: Fintech

FTX failure bolsters “same risk, same regulation” argument, UK regulator says

The Bank of England’s deputy governor for financial stability Jon Cunliffe has spoken out about how the collapse of crypto exchange FTX will impact the UK’s plans for crypto regulation – while giving details on the central bank’s plans for a systemic payment systems regulatory regime and a digital pound.

22 November 2022

FSB outlines next steps for cross-border payments

The Financial Stability Board has published the priority themes for its cross-border payments plan – including greater engagement with the private sector at senior management level.

13 October 2022

Greylisted UAE takes Wise to task for AML failures

The financial regulator of Abu Dhabi’s free zone has fined fintech Wise for a series of poor money laundering controls, months after the FATF cited the UAE’s lax enforcement against money laundering in its decision to greylist the country.

01 September 2022

Meet the policymaker: Jan Ceyssens, European Commission

“Regulation can only do so much”: with the EU’s landmark Markets in Crypto Assets framework agreed, GBRR met with one of its key architects, the head of the European Commission’s digital finance unit Jan Ceyssens, to discuss MiCA, what open banking has in store and his hopes for a digital euro.

25 July 2022

“A different type of regulator is required”: FCA chief previews plans for crypto, data and ESG

The chief executive of the UK’s Financial Conduct Authority has told a US audience the regulator is on a new path to expand its technological capabilities and regulatory remit on crypto.

18 July 2022

Protect investors to stave off crypto runs, Brainard says

At a Bank of England event, the US Federal Reserve’s vice-chair Lael Brainard has outlined a case for crypto-asset and stablecoin regulation and called for banks to second-guess their crypto involvement.

11 July 2022

Russia turns to blockchain-powered ledger following SWIFT ejection

Practitioners have expressed doubts over Russia’s blockchain-based “alternative” for the SWIFT payments network from which many of the country’s banks have been excluded since the invasion of Ukraine.

22 June 2022

US Commerce Department calls for input on digital asset framework

The United States’ Department of Commerce has asked whether the US regulatory landscape is impacting the global competitiveness of digital asset platforms, as practitioners say the forthcoming framework could affect “a number of new market actors”.

26 May 2022

EU begins PSD2 reassessment and open banking consultation

The European Commission has set the ball rolling on a review of PSD2, alongside a new consultation on its open banking and data sharing framework – but some industry voices have said its plans do not go far enough for open finance’s needs.

12 May 2022

Fed master account proposals draw industry backlash

The Federal Reserve’s proposal to allow fintechs access to central bank accounts has prompted six US banking bodies to express constitutionality concerns, calling on the regulator to reconsider its plans.

25 April 2022

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