Fintech
Fintech in the ‘new era’ – Sustainable and sound development
Li Dongrong, president of the National Internet Finance Association of China and former deputy governor of the People’s Bank of China, discusses the growing importance of fintech and how innovation must be married to self-discipline for China to make a…
Philippines toughens rules on crypto-exchanges
Philippines is one of the few central banks to adopt formal regulations on crypto-asset exchanges
CFTC’s fintech catch-up effort includes ‘global sandbox’ push
Chairman Christopher Giancarlo says the US derivatives regulator is seeking co-operation agreements around the world
Do not discount central bank digital currency yet – Lagarde
IMF chief says central banks may be forced to issue their own form of crypto-asset if private sector alternatives remain ‘risky and unstable’
FCA’s McTeague examines cyber risks in open banking
Regulator expects firms to maintain high standards of security despite “potentially uncomfortable” transition period
SNB rejects idea of retail central bank digital currency
Governing board member Andrea Maechler says central bank digital currency would bring “incalculable risks”, and denies that crypto tokens are “comparable with” money
RBI to consider launching digital currency
Reserve bank to investigate issuing a digital form of central bank money, as it unveils measures to “ring fence” regulated banks against crypto tokens
Bank Negara Malaysia ‘foils’ cyber heist
Central bank assures public no funds were lost during incident involving falsified Swift messages
BoE and FCA to lead new ‘crypto-assets task force’
Regulators will manage the risks around crypto assets as well as “harnessing the benefits” of blockchain; robo-compliance on cards
Crypto tokens not yet a ‘significant risk’ – MAS’s Menon
The MAS is monitoring the crypto world using “unconventional” data-gathering methods
FSB: cryptocurrencies too small to be major threat
Limited links to real economy imply crypto assets may avoid regulatory crackdown for now; work continues on consumer protection
Thai governor advises banks to get fintech-based vaccine
Fintech can help build “immunity” to financial shocks, says Santiprabhob, urging banks to use data to improve risk management
Lagarde says tech should be used for crypto regulation
IMF managing director says it’s time to “fight fire with fire”; DLT and AI could help enforce regulation on crypto assets
Central bank digital currencies could aid policy transmission – BIS
BIS says CBDC may boost transmission of rate changes, but could also lead to runs at “unprecedented speed and scale”
Banks’ links to fintech echo run-up to financial crisis, EBA head says
EBA will work for consistent regulation of fintech by European countries, Enria says
European cyber resilience board holds first meeting
ECB’s Cœuré will chair board consisting of major financial infrastructure companies
Malaysia imposes anti-money laundering rules on crypto exchanges
BNM orders digital currency exchanges to identify customers and monitor transactions
Cryptocurrencies are failing to displace money, Carney says
BoE governor says digital currencies are “virtually non-existent” as units of account
Sweden must ask fundamental questions on money – Ingves
Sveriges Riksbank governor Stefan Ingves says lawmakers must act to preserve the regulation of the payments system
ECB’s Mersch urges caution on regulatory sandboxes
The ECB board member is “not sure we have the right answers yet”
Fintech lenders increase efficiency of US mortgage lending, research says
Digital credit providers offer faster services, reliable risk assessments and flexible business models, New York Fed research finds
UK lawmakers launch inquiry into DLT and cryptocurrency
Parliamentary committee is to investigate whether UK regulators have struck the right balance in regulating emerging technologies without stifling innovation
Basel Committee weighs opportunities and risks linked to fintech
Regulators should adapt their policies to new risks while not stifling innovation