cryptocurrency Innovation Risk Management Technology 
CFPB Monitor
AUGUST 1, 2022
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. In the introduction to the RFI, the FHFA noted President Biden’s March 2022 executive order.
Jeff For Banks
NOVEMBER 28, 2023
Decentralized finance (DeFi) : DeFi technologies, such as blockchain and cryptocurrencies, will disrupt traditional banking models and create new opportunities for financial inclusion. Data-driven decision-making : Banks will use data analytics to make better decisions about product development, marketing, and risk management.
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CFPB Monitor
JULY 27, 2020
cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency.” Through intermediated exchanges of payments, banks facilitate the flow of funds within our economy and serve important financial risk management and other financial needs of bank customers.
PYMNTS
JUNE 18, 2020
The technology lets users move money sans routing, banking account or credit card number. He noted that a number of payment technologies and digital currencies provide real anonymity or some degree of it. Kellermann said there has been a rise in the instances of thefts and hacks at cryptocurrency exchanges.
PYMNTS
NOVEMBER 2, 2020
Their research will begin with a proof-of-concept for a CBDC operated on distributed ledger technology (DLT) to test the proposed coins’ use cases in payment settlements, the release stated. RBA expects to finish the project at the end of this year.
PYMNTS
DECEMBER 29, 2020
With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. It’s great to see the prioritization on innovation with this bill,” Wingert said, calling the AML regulatory changes important. Accurate and reliable data is a critical piece of modernizing the AML regimen,” he said.
PYMNTS
FEBRUARY 15, 2018
Elsewhere, in India, that country’s Reserve Bank has floated a raft of proposals seeking to boost the FinTech space, with a focus on innovation labs and data protection, among other initiatives. One consideration, the group has said, includes regulatory sandbox/innovation hubs that provide industry support as innovation comes to market.
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