Topic: Fintech

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

Commodities, cyber and climate: Global regulators warn of Russian invasion’s catalysing effects to existing risks

Regulators in the EU, Canada and the Financial Stability Board have all warned that Russia’s invasion of Ukraine war is exacerbating existing commodity market, environmental, and cyber security risks.

22 April 2022

“Slow the pace of growth”: IMF calls for regulatory parity for neobanks and decentralised finance to combat liquidity risks

The International Monetary Fund has warned about emerging risks and urged regulators to reinforce the rules regarding fintech development.

14 April 2022

UK competition regulator hands open banking to FCA

The UK’s competition regulator will cede control of its open banking unit to the Financial Conduct Authority, following criticisms of its governance and a bullying scandal last year.

29 March 2022

“We are consciously inviting a downfall”: practitioners warn crypto is outpacing regulators, as BoE calls for expanded framework

The Bank of England has called for an expansion of its regulatory framework to “mitigate certain risks” from cryptoassets and decentralised finance.

29 March 2022

Fintechs should invite the regulators in

Tony Brown, head of compliance and money laundering reporting officer of IFX Payments, argues that regulatory staff need to be upskilled to make regulation work for the fintech industry.

23 March 2022

Two Gulf regulators license Binance

Cayman Islands crypto exchange Binance has obtained crypto-asset licences from Dubai’s newly-established crypto regulator and the Central Bank of Bahrain.

21 March 2022

Get unlimited access to all Global Banking Regulation Review content