Topic: Fintech

“Let’s not run before we can walk”: BoE’s Bailey on stablecoins

Bank of England governor Andrew Bailey has urged caution on stablecoin initiatives, saying multi-currency ‘baskets’ are the “wrong place to start”.

08 September 2020

Community round-up: Libra names second GC in three months, ESMA names CCP committee

O’Melveny & Myers partner Stevan Bunnell has joined Facebook’s cryptocurrency project Libra as chief legal officer, while the European Securities and Markets Authority has nominated members for the central counterparties supervision committee formed under last year’s EMIR revision.

04 September 2020

New Australian regulatory sandbox set to come online

Australia’s securities regulator has issued guidelines to assist with its new “enhanced” regulatory sandbox, which is set to come online next week.

26 August 2020

AI and machine learning – views from Hong Kong and the UK

Artificial intelligence and machine learning have rapidly grown in importance during the covid-19 pandemic, say speakers at a recent Bank of England webinar – but a report issued the same day by a group of Hong Kong regulators said new types of risk arising from the use of the technologies may require new types of macroprudential regulation.

24 August 2020

Pinheiro Neto advising WhatsApp on payments revival attempt in Brazil

WhatsApp is attempting to re-launch its payment platform in Brazil after being suspended within a week of its debut last month, as the central bank’s director says modifying existing regulations was the only way it could permit the service in its original form.

22 July 2020

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

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