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195

Regulators Continue to Crack Down on Digital Currencies

Crypto currency news continues to dominate the fintech space, as new concepts and ideas that are the future of technology continue to incorporate digital currencies. While many believe that crypto currency values will surpass 1-trillion in 2018, the crack down on regulatory compliance continues to be a fly in the ointment. Another interesting phenomenon is the number of hedge funds that have popped up that are completely dedicated to trading crypto currencies.  This will either provide additional liquidity and the advancement of the fintech space or be a failure that drains liquidity as the tulip market tumbles. (more…)

Fintech news, Government activities

February 14, 2018

105

South Korea vows firm action against illegal, unfair cryptocurrency trading

South Korea said it will take firm action against illegal and unfair acts in cryptocurrency trading after a 280,000 signature petition was sent to the presidential Blue House. (more…)

Global trends, Government activities

February 14, 2018

260

Monetary Authority of Singapore introduces new guidance for remote customer onboarding

The Monetary Authority of Singapore (MAS) has issued new guidance to financial institutions (FIs) on the use of innovative technology solutions to facilitate safe, non-face-to-face customer on-boarding. (more…)

Government activities, Hotnews

February 8, 2018

306

FinTech Should Face Banking’s Regulations, According To Finance Chiefs

European financial leaders believe technology players like Facebook and Google are moving in on their turf, abetted by the fact that they don’t face the same regulatory limitations their counterparts in traditional banking do. (more…)

Banks, Global trends, Government activities, Hotnews

February 5, 2018

612

South Korea doesn’t intend to shut down virtual coin trading: finance minister

South Korea’s finance minister said on Thursday the government has no plans to shut down cryptocurrency trading, affirming market speculation that the authorities won’t go as far as China, which has blocked virtual coin platforms. (more…)

Cryptocurrencies, Government activities, Hotnews

January 31, 2018

220

Hong Kong plans TV ad campaign to warn against ICO and crypto investments

By Jon Russel for TC

Most financial authorities worldwide have warned their citizens on the risks of buying bitcoin or investing in ICOs, but Hong Kong is going a step further. Concern is such in the country that authorities are taking to TV and other media to warn of the risks of investment. (more…)

Cryptocurrencies, Government activities, InspirAsia

January 30, 2018

535

India’s Silicon Valley Partners With Local Fund To Build ‘Largest Blockchain Ledger’

India’s eighth-largest state Andhra Pradesh has partnered with local Covalent Fund to build “the largest” Blockchain stack for its government, according to an article published by Inc42 on Friday, Jan. 19. (more…)

Government activities, Hotnews

January 23, 2018

202

Indian Banks Suspending Bitcoin Exchange Accounts

Bitcoin exchanges are under fire in India, as many of the nation’s top banks have suspended or greatly curtailed functionality on exchange accounts. State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank have all taken strong action toward crypto exchanges, either closing accounts or severely limiting functionality. The banks cite the risk of dubious transactions, according to local reports. (more…)

Blockchain, Cryptocurrencies, Global trends, Government activities, Hotnews

January 22, 2018

629

Open Banking: What Will Next Christmas Bring?

Last Christmas I had two permanent bulges in my trouser pockets thanks to my ever present wallet and mobile phone. I bought presents with my traditional bank account card using online and contactless services and I used the ATM to withdraw cash to go to the Christmas parties I attended.  (more…)

Government activities, Hotnews, Open Source/ API

December 26, 2017

250

MAS cautions against investments in cryptocurrencies

By Mas

The Monetary Authority of Singapore advises the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies (more…)

Blockchain, Cryptocurrencies, Global trends, Government activities

December 20, 2017

FinTech Australia & FinTech Indonesia Sign MOU in Collaboration Push

FinTech Indonesia and FinTech Australia have signed a memorandum of understanding (MOU) in a move designed to propel the mutual development of Fintech in both jurisdictions. FinTech Australia is the leading voice of the emerging Fintech industry in Australia. The group is actively engaged with both public sector participants and the Australian government to help promote innovations in finance. FinTech Indonesia is a national association that strives to bring together companies and institutions of financial services sector actors who use technological advances in running their business. The MOU was described as a “landmark agreement” as both parties seek to exchange talent, expertise while aiding Fintech company expansion in each country. (more…)

Fintech news, Government activities

December 18, 2017

232

Bank Indonesia to Bar Fintech Companies From Using Digital Currency on Platforms in 2018

Bank Indonesia announced on Thursday it has issued new regulations that bar fintech companies from using cryptocurrencies on their platforms. This news comes less than two months after the bank announced it has drawn up rules to monitor fintechs in the country. (more…)

Banks, Cryptocurrencies, Government activities

December 8, 2017

240

South Korea’s Financial Services Commission Plans To Reverse ICO Ban

South Korea’s Financial Services Commission (FSC) is planning to introduce regulations for Bitcoin and other digital currencies, as well as to lift the blanket ban on initial coin offerings (ICO) in the country. The plans were revealed by a senior agency official on Dec. 6, 2017. (more…)

Cryptocurrencies, Fintech news, Global trends, Government activities, InspirAsia

December 8, 2017

242

Singapore October bank lending up 1.4%: MAS

SINGAPORE’S total bank lending in October climbed 1.4 per cent from September, on the back of higher loans to financial institutions. (more…)

Banks, Government activities, Hotnews

November 30, 2017

420

UK Open Banking expanded to cover all PSD2 products

The UK’s Open Banking project is being expanded to embrace all payment account types – including credit cards, prepaid cards and e-wallets – covered by PSD2. (more…)

Government activities

November 23, 2017

540

Bermuda bids to become cryptocurrency haven

By BDA,

The Bermuda Business Development Agency (BDA) will take a lead role in an initiative launched by the Bermuda government today to accelerate the establishment and growth of digital currency business on the island. (more…)

Cryptocurrencies, Fintech news, Government activities

November 23, 2017

230

MAS to run second consultation on new regulatory framework for payments

By MAS

The Monetary Authority of Singapore (MAS) today launched a second consultation on its proposed payments regulatory framework, known as the Payment Services Bill (the “Bill”) (more…)

Government activities

November 22, 2017

244

Singapore and Philippines ink fintech agreement

By MAS

The Bangko Sentral ng Pilipinas (BSP) and the Monetary Authority of Singapore (MAS) today signed a FinTech Co-operation Agreement (CA) to promote innovation in financial services in their respective markets. (more…)

Fintech news, Global trends, Government activities

November 18, 2017

363

Monetary Authority of Singapore Publishes Guidance on Initial Coin Offerings

The Monetary Authority of Singapore (MAS) has published a document providing guidance on Initial Coin Offerings (ICOs). Entitled “a Guide to Digital Token Offerings,” the document seeks to clarify when an ICO is in fact a security, and thus regulated and the application of securities laws.  MAS published a statement in August warning issuers and offering platforms that ICOs may be regulated in an approach similar to the US SEC. The statement was followed with a warning to investors to be cautious in backing tokenized offerings. (more…)

Banks, Global trends, Government activities, InspirAsia

November 16, 2017

255

Singapore’s central bank to pour $20m into AI and data as it pushes fintech growth

The Monetary Authority of Singapore (MAS) continues bringing finance and technology closer together, making sure that Singapore’s financial industry doesn’t miss the fintech train. (more…)

Banks, Deals, Fintech news, Government activities, InspirAsia

November 14, 2017

Just How Disruptive Are ICOs To The Classic VC Model?

By Tomasz Tunguz from Redpoint Ventures for his blog

Initial Coin Offerings, a fundraising mechanism for companies using cryptocurrencies as a mechanism to buy their service, seem to be upending the world of venture capital. Filecoin raised $250M through an ICO. Tezos raised $232M. Bancor raised $153M. These are massive amounts of money. Recently, I’ve been wondering how prevalent ICOs are and whether they could potentially be a substitute for venture capital. (more…)

Blockchain, Cryptocurrencies, Global trends, Government activities

November 7, 2017

248

Gibraltar: Does Statement on Initial Coin Offerings Include New Regulatory Framework?

On September 22, 2017, the Gibraltar Financial Services Commission (GFSC) issued a Statement on Initial Coin Offerings (ICO).   With the GFSC Statement, Gibraltar joined a growing number of jurisdictions that have provided token sale guidance, including, among others, the United States, Canada,  Singapore,  Hong Kong and China. (more…)

Government activities, Hotnews

October 16, 2017

239

Monetary Authority of Singapore: DLT is a Natural Platform for Collaboration

Ravi Menon, Managing Director of the  Monetary Authority of Singapore (MAS), spoke about the intrinsic potential of Blockchain or Distributed Ledger Technology (DLT) at the Global Blockchain Business Conference last week in India. Singapore is the leading Fintech hub in southeast Asia and is keen to maintain the title. Blockchain is a key element for the future of financial services. (more…)

Blockchain, Cryptocurrencies, Government activities

October 16, 2017

357

Malaysian Central Bank Close to Deciding On Digital Currency Regulations

By Lisa Froelings

The Malaysian central bank, Bank Negara Malaysia, has yet to make a decision on how to effectively regulate the use of digital currencies in the country, according to local reports. One of the options being considered by the bank is the possible ban of virtual currencies. (more…)

Government activities

October 6, 2017

393

Berlin Group launches Public Market Consultation on NextGenPSD2 Standard

On 2 October 2017, The Berlin Group will launch a 6-weeks public market consultation on its NextGenPSD2 Access to Accounts (XS2A) Standard that enables Third Party Providers (TPPs) to access bank accounts under the revised Payment Services Directive (PSD2). (more…)

Fintech news, Global trends, Government activities

September 28, 2017

369

Monetary Authority of Singapore sets up international advisory panel for cybersecurity

By MAS

The Monetary Authority of Singapore (MAS) announced today that it has established a Cyber Security Advisory Panel (CSAP), comprising cyber security thought leaders from around the world. (more…)

Government activities

September 21, 2017

362

Dubai and Malaysia ink fintech cooperation agreement

The Dubai Financial Services Authority (DFSA) and Securities Commission Malaysia (SC) last week entered into an agreement to cooperate in the development of financial technology (FinTech) innovation. (more…)

Government activities, Hong Kong, Hotnews

September 13, 2017

Estonia Can’t Make Its Own Digital Currency

The news that Estonia was considering its own digital currency has reached the ears of Mario Draghi, the president of the ECB. Draghi was quick to point out that a state currency does not work within the Euro zone. He said:

“No member state can introduce its own currency; the currency of the euro zone is the euro.”

(more…)

Global trends, Government activities, Hotnews

September 11, 2017

244

India Keeps Quiet on ICOs So Far, Focuses on Cryptocurrency Misuse

India has not yet responded to China’s sudden ICO ban, with lawmakers continuing to focus on “misuse” of cryptocurrencies in general. (more…)

Government activities

September 6, 2017