Ant Group Overhauling Operations To Satisfy Chinese Regulators 

PYMNTS

After having its $37 billion dual IPO pulled by Beijing, Jack Ma’s Ant Group is working fast to overhaul operations to comply with government regulations, The Wall Street Journal reported on Friday (Jan. The company was told by Chinese financial regulators at a Dec.

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FAA OKs American Robotics Drones To Fly Without Human Operators

PYMNTS

The Federal Aviation Administration is letting commercial drone-maker American Robotics operate drones without on-site pilots — but with a number of caveats, according to a decision recently posted on the agency’s website.

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Three Crypto Operators Sued By US Regulator

PYMNTS

In the latest sign of regulatory action in the virtual currency realm, the Commodity Futures Trading Commission (CFTC) has filed a lawsuit against three virtual currency operators, with allegations that the trio had defrauded customers. In addition, the regulator charged, the three operators broke laws governing commodity trading. The newspaper noted that these are the first actions that come against operators since bitcoin futures were launched in December of last year.

California Lets Aurora Operate Driverless Cars

PYMNTS

Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports.

Regulators Probe Market Amid Rising Meme Stocks

PYMNTS

Regulators are worried that investors could suffer steep losses if the stocks plunge, according to the report. Stock Index investigations Investments News regulations SEC Stocks What's HotMarket swings and the surging prices of meme stocks have caught the attention of the U.S.

Digital regulators are a new norm in financial services

Accenture

But they are also forcing central banks and regulators to rethink and restructure their approaches to becoming resilient, adopting new technologies, leveraging data and constructing an agile operating model, all while providing regulatory services.

Judge To Decide Whether Uber Can Operate In London

PYMNTS

seeks to reinstate its license to provide ride-hailing services in London after a suspension, the city’s transportation regulator will leave the decision up to a judge. Citing that Uber was unfit to hold a license, TfL suspended the company’s operations last November.

Regulation, Not Fintech, Will Have the Biggest Impact on Banks

Bank Innovation

Regulation is still shaping banks’ strategic thinking, says a new study by The Economist Intelligence Unit. In North America regulation was the top concern. Corporate DataBank Databank Operations bank regulation banks fintech regulationThe unit surveyed 200 global banking executives to investigate the challenges retail banks face in the years to 2020. “This year is marked by a sharp regional divergence about which rules […].

China Ramps Up Calls For Crypto Regulations; Bitcoin Plummets

PYMNTS

Chinese authorities ramped up their calls for increased regulations on cryptocurrencies on Friday (May 21), CNBC reported. is also ramping up its regulations on cryptocurrency. Cryptocurrency Bitcoin china cryptocurrency News regulations What's Hot

US To Implement Cybersecurity Regulations On Pipelines

PYMNTS

The Transportation Security Administration (TSA) will release a new security directive, the first of two, to require pipeline operators to reveal when they've been the target of an attack, The Wall Street Journal reported.

Regulators Take Aim At Cryptos' ‘Wild West’ Environment

PYMNTS

If the legal process determines that XRP operates as a security rather than as a currency, we contend that the “ripple effect” (no pun intended) may be that cryptos’ bid to become a de-facto currency to rival the banking system, at least here in the U.S.,

PSD2 Creates Turbulence For Travel Operators

PYMNTS

In the January PSD2 Tracker , PYMNTS examines how money movement and data flow are getting an upgrade with PSD2, as well as how the upcoming SCA regulation is bound to affect user authentication. Despite GDPR coming into effect a full six months ago, 50 percent of European merchants still aren’t compliant with the regulation.

Gig Economy Drone Operators Could Soon Pilot Last-Mile Delivery

PYMNTS

As reported by CNN , Connecticut-based Aquiline Drones is aiming to debut a smartphone app that will allow licensed drone operators to do short-term, project-based work as drone pilots. Federal Aviation Administration (FAA) requires that drone operators be certified.

Big Tech Faces Regulation Reckoning As 2021 Dawns

PYMNTS

The outcome, should it come in 2021, would shape how app store and other platforms operate, and whether they promote or hinder competition and innovation in various tech marketplaces. Regulation Antitrust Big Tech cma Facebook Featured News FTC Google Lawsuits News

Is Your Board Ready To Comply With Cybersecurity Regulations?

Bank Innovation

Last year, regulators in New York decided to take cybersecurity matters for financial institutions into their own hands, releasing a set of rules (which went into effect in March), requiring banks and other FIs to establish a stricter cybersecurity program. Compliance Exclusive Operations Board cyberattacks cybersecurity Diligent IT Security

Mastercard Selects New President For European Operations

PYMNTS

He will be tasked with developing strategy, direction and comprehensive success of Mastercard’s operations across 53 countries in Europe. Perez also formed partnerships with various businesses, government entities and regulators to advance ingenuity and confidence in the payment landscape.

China Clips Big Tech’s Finance Wings With New Regulations

PYMNTS

Chinese regulators are handing down new laws that will restrict the finance operations of some of the country’s biggest technology firms, Bloomberg reported on Thursday (April 29). International Big Tech china international News regulations What's Hot

China Drafts Updates To Commercial Bank Regulations

PYMNTS

They’ve been asked to support the economy at the expense of their own operational strength.” . International banking china international lenders Lending News people's bank of china regulations What's Hot

From Taxes To Trading, Federal Scrutiny of Crypto Regulation Is On The Rise

PYMNTS

It really comes down to coordinating across the agencies,” said Hsu, the top regulator of domestic banks in the Treasury Department. It may be that the SEC ultimately decides how cryptos operate and how they are used.

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Restaurant Operators On Life Before, During And After COVID-19

PYMNTS

Restaurants are tough businesses to operate, even in the best of times — 60 percent fail within their first year, and 80 percent within their first five. The same holds true for Bamboo Asia, an establishment that operates throughout San Francisco’s financial district, said van de Rijt.

Bitcoin Daily: Bitcoin Mine Operator Planning IPO; Swedish Financial Authority Warns Consumers Of Crypto Risks

PYMNTS

Bitcoin mine operator Northern Data AG is planning to go public and could raise up to $500 million in the initial public offering (IPO), Bloomberg reported.

Massachusetts Regulators To Crack Down On Robinhood

PYMNTS

Robinhood has come under the watchful eye of regulators — this time in Massachusetts. State regulators are set to file a complaint on Wednesday (Dec. 16) saying that the stock-trading platform failed to protect its customers and their assets, violating state laws and regulations.

Chinese Regulators, Ant Group Agree On Restructuring Plan For FinTech

PYMNTS

Chinese regulators along with Jack Ma and his Ant Group have reached an agreement that would turn the financial technology company (FinTech) into a financial holding company. That means Ant will operate under rules similar to banks, including stricter capital requirements.

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G7 Set To Oppose Facebook Libra Over Lack Of Regulations

PYMNTS

Facebook's proposed global digital currency Libra is expected to get pushback from G7 leaders who are anticipated to publicly oppose the project due to a lack of regulations, according to a Reuters report on Monday (Oct.

Regulation Crowdfunding Tackles The Startups Shunned By Banks

PYMNTS

While still in its early stages, Regulation Crowdfunding and other frameworks, such as Regulation A+ , have expanded choice for business owners, although it will take some time before awareness and understanding of this route to capital grows among entrepreneurs.

Turning Compliance Burden Into FinTech-Regulator Collaboration

PYMNTS

Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. Particularly amid the continuing uncertainty surrounding Brexit, FinTechs are turning to Lithuania to retain their European footholds and operate in a country that supports their innovative ambitions.

New York To Ease Cryptocurrency Regulations

PYMNTS

It will be easier for New York cryptocurrency businesses to launch in New York, thanks to a plan by regulators that would ease licensing rules.

Link, ATM Operator Face Potential Court Fight

PYMNTS

NoteMachine , one of the biggest ATM operators in the U.K., But Link decided to cancel the third reduction and will review the fourth one after facing pressure from politicians, lobbyists, and regulators. A Link spokesman declined to comment on the fight with NoteMachine , but Link chief operating officer Sue Wallace wrote in an email seen by The Financial Times that the company “strongly” rejects the contention. “It

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Mexican Regulator Gives Go-Ahead For Uber’s Cornershop Acquisition 

PYMNTS

Mexico’s antitrust regulator Cofece has approved the acquisition of grocery delivery platform Cornershop by Uber Technologies, Bloomberg reported on Monday (Dec. and Canada operating under Uber’s app. .

Big Tech Compliance Tracker: Australian Regulator Seeks Feedback On ‘Choice Screens’; China Bolsters Enforcement Of Antitrust Regulations

PYMNTS

Australian Regulator Looks For Feedback On Web Search ‘Choice Screens’. China Increases Enforcement Of Antitrust Regulations. The State Administration for Market Regulation indicated that 108 antitrust probes were finished last year in contrast to 46 cases the prior year per the report.

The Move To Regulate IoT

PYMNTS

Thirty-four percent of businesses are using IoT in their operations, according to a recent study, and 70 percent of that group have moved beyond pilot testing to actual adoption. The March Intelligence of Things Tracker explores the growing list of industries in which IoT is alive and well, from food delivery and service operations to agricultural supply chains and industrial manufacturing. Congress have released rules to help regulate IoT data security.

i2c’s McCarthy: Regulations Can Tame Wild West of Financial Services Reliability

PYMNTS

In an interview with Karen Webster, i2c President Jim McCarthy said that we’re about to see the taming of a “wild west” of regulation and standards that have so far failed to do the job. Regulation banking compliance Featured News financial services i2C News payments regulations

UK Regulators Call For Backup Plans Following Bank IT Glitches

PYMNTS

regulators on Thursday (Dec. The Bank of England , the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) published a shared policy summary on new requirements to strengthen operational resilience in the financial services sector.

North Dakota Senate Rejects Bill To Regulate Apple App Store

PYMNTS

That would’ve been a change from how Apple and Google currently operate, where companies utilizing their app stores as a go-between have to pay a 30 percent fee. Regulation App Store Apple Google legal News North Dakota regulations What's Hot

UK Regulator Awards Full Bank License To Cashplus

PYMNTS

Cashplus was granted an unrestricted banking license by the Prudential Regulation Authority on Wednesday (Feb. The AltFi report notes that Cashplus has turned an operating profit every year since 2012, and last year Cashplus generated £50 million in revenue.