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FHFA announces Office of Financial Technology

CFPB Monitor

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space.

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Bitcoin Daily: UK Researching CBDC Use Cases; Lebanon To Introduce CBDC In 2021; SEC Member Pushes For Cryptocurrency Regulation; ShapeShift Delists Three Privacy Coins

PYMNTS

The announcement did not specify the regulations, but it did note that the approach will ensure that the CBDC meets “the same minimum standards we expect of other payment methods.”. Regulators are slow, and there’s a reason we’re slow,” she said, speaking at CoinDesk ’s Bitcoin for Advisors event. “We

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Financial technology needs rules of engagement

Payments Source

Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread.

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Russian Central Bank Says ‘Nyet’ To Digital Crypto

PYMNTS

The regulator made the remarks at the Finopolis forum of innovative financial technologies. “As Russia’s Central Bank , we have been studying this topic and the need to issue a national cryptocurrency is not obvious for us. She has said that she sees the promise of blockchain technology , however.

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Central Bank In Russia Skeptical Of National Crypto Benefits

PYMNTS

The regulator made the remarks at the Finopolis forum of innovative financial technologies. “As Russia’s Central Bank , we have been studying this topic and the need to issue a national cryptocurrency is not obvious for us. She has said that she sees the promise of blockchain technology , however.

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BOE Head Carney: FinTech Won’t Make Central Banks Obsolete

PYMNTS

The governor of the Bank of England said he doesn’t think new financial technologies (FinTechs) will cause central banks to be obsolete. The fact is that the financial system … is the most heavily regulated part of the economy. He said that regulation is an important aspect of the field.

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FB Touched Base With Fed On Crypto

PYMNTS

Federal Reserve Chairman Jerome Powell revealed that Facebook has spoken to the central bank about its upcoming cryptocurrency, called Libra. Powell added that the Fed meets “with a broad range of financial sector firms all the time on financial technology.”.