Topic: Fintech

What’s in store for 2023? Part three: regional issues

Some of the regulatory issues banks will face in 2023 cut across borders, but not all. In this final part of GBRR’s examination of the year to come, we asked practitioners in the US, UK, Singapore, and Hong Kong how local issues will play out over the next 12 months.

18 January 2023

UK payments regulation “not working as well as it could”, Treasury admits

The UK government has called for input on plans to “future-proof” its post-Brexit, post-PSD2 payments regime after admitting the current framework has failed to foster open banking as desired.

17 January 2023

What’s in store for 2023? Part one: crypto

How will regulators grapple with crypto in 2023, after one of the rockiest years in the industry’s short history? In the first of three pieces examining what 2023 has in store for banking regulation, GBRR spoke with practitioners from Europe, the United States, Singapore and Hong Kong about the road ahead for crypto.

09 January 2023

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

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