Time for a global regulator

Chris Skinner

I was in conversation with a banker the other day and we got around to regulations and regulators, as many conversations with banks tend to do. I guess it falls into three categories: the way regulations used to be; the way … The post Time for a global regulator appeared first on Chris Skinner's blog. Digital Bank Future Grid Opinion Regulation

Regulating the cryptocurrency markets

Chris Skinner

I guess that this is logical as my last line was that government control of cryptocurrencies is “not so easy for cryptocurrencies that have … The post Regulating the cryptocurrency markets appeared first on Chris Skinner's blog. Blockchain Fintech Future Grid Innovation Opinion Payments RegulationSomeone made the comment on my platform piece about what happens when there are no Jack Ma’s or Mark Zuckerberg’s, as the whole thing is decentralised?


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Regulating the unregulated

Chris Skinner

I was thinking about this question of how to regulate global technology platforms that don’t recognise national boundaries, mainly in the context of crypto and digital currencies. How can you regulate a global currency that has no view of state or national laws? Obviously, you can only regulate it when … The post Regulating the unregulated appeared first on Chris Skinner's blog. Blockchain Crime Fintech Grid Opinion Regulation

Slow regulations versus fast tech

Chris Skinner

Before 2010, I was writing a lot about technology but it was all heavily geared towards regulations. MiFID and PSD were top of mind, along with Basel III and other global, European and domestic regulations. I wrote a lot about regulations. … The post Slow regulations versus fast tech appeared first on Chris Skinner's blog. Digital Bank Fintech Grid Innovation Regulation Technology Uncategorized

BaaS works, it’s the regulations that don’t

Chris Skinner

This means this is not the end … The post BaaS works, it’s the regulations that don’t appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Opinion RegulationDuring my MoneyBox interview about Wirecard (see end of this blog), Paul asked me the question: how could this happen again? What’s next? And I said, we learn from our mistakes. Progress never stops. Wirecard won’t shut down FinTech. It will amend it.

European Central Banks Demand Strict Cryptocurrency Regulations


Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported.

India Regulators Investigate Google Pay Antitrust Concerns


Google Antitrust india legal News regulations What's HotThe Competition Commission of India (CCI) is looking into Google Pay to see if it has been abusing its dominance of the country’s digital payment markets, reported LiveMint.com on Monday (Feb.

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5 Startups Rebooting Regulation

Bank Innovation

The rise of insurtech is running parallel to the rise of regtech, as financial firms and startups apply artificial intelligence, blockchain, and other technologies to the dizzying world of financial regulation. Changing the face of regulation for a fresher, more transparent take isn’t exactly easy–as the OCC is finding out–but we […]. Fintech has another cousin.

SEC's Peirce Says Clear Crypto Regulations Are A Must


Republican commissioner Hester Peirce , a top Securities and Exchange Commission (SEC) official, wants to see more regulation for cryptocurrency, according to Reuters , as major companies like Tesla , BNY Mellon Corp.

Big Tech Faces Regulation Reckoning As 2021 Dawns


Alibaba billionaire Jack Ma reportedly told regulators at a meeting: "You can take any of the platforms Ant has, as long as the country needs it.”. Regulation Antitrust Big Tech cma Facebook Featured News FTC Google Lawsuits News

The regulator’s focus for 2020

Chris Skinner

Here’s where the regulator will focus in 2020: The Financial Stability Board (FSB) published its work programme for 2020. The FSB’s work priorities for 2020 reflect the evolving nature of the global financial … The post The regulator’s focus for 2020 appeared first on Chris Skinner's blog. Future Grid Payments RegulationI was going to write stuff about this but The Financial Stability Board did it for me.

The Semantic Regulator (#RegTech Rules)

Chris Skinner

A bigger question must also be: how can a regulatory check that a bank is compliant with their regulatory changes, if their regulations change every 12 minutes are run to 1,000’s of pages? The answer is they can’t, but they don’t … The post The Semantic Regulator (#RegTech Rules) appeared first on Chris Skinner's blog. Blockchain Fintech Grid Regulation Technology UncategorizedA bank has to make a regulatory change every 12 minutes. That’s some task.

UK Regulator Seeks Tailored Rules For Big Tech


The proposed regulations from the Competition and Markets Authority (CMA) are expected within the next few weeks and are almost certain to guide the actions of a newly announced government digital watchdog, FT reported.

Bank regulations change every 12 minutes

Chris Skinner

In fact, what gets me is that regulations are the big ticket barrier to change in banking. It’s what protects the banks from disruption and change, as … The post Bank regulations change every 12 minutes appeared first on Chris Skinner's blog. Grid Regulation UncategorizedI recently spent a day in a meeting discussing Governance, Risk and Compliance (GRC) … yawn. Well, it is a bit of a dull area, but highly important.

How do governments regulate a networked world?

Chris Skinner

Seven billion people have access … The post How do governments regulate a networked world? Opinion Regulation Technology UncategorizedFollowing on from yesterday’s blog about Little Britain and a hard Brexit, we all know the world has been globalising and, even though there is currently a backlash against globalisation per se, it is unstoppable. It is unstoppable primarily because of technology. The whole planet is now on the network.

Digital regulators are a new norm in financial services


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. Hence, regulators need to step up to stay relevant in the digital economy. The post Digital regulators are a new norm in financial services appeared first on Accenture Banking Blog.

Merchants Get Clarity Around Compliance As Global Payment Regulations Evolve


Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. Bank Regulation Ekata News Open Banking payments PYMNTS Study regulations Security

Chinese Regulators, Ant Group Agree On Restructuring Plan For FinTech


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. But it is also a major Chinese lender , and that is what attracted regulators’ scrutiny.

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States are well equipped to regulate fintechs

Payments Source

But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation. Fintech CSBS OCC State regulators Fintech regulations

Chinese Regulators Propose New Antitrust Rules For Payments Sector


Payment companies that already possess state licenses will be given one year to comply with the new regulations. Chinese regulators have since ordered Ant to restructure its business and have launched an antitrust probe into its sibling company, Alibaba , Bloomberg added.

Regulators Line Up For Trade Finance Modernization


Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology. As a highly regulated area of financial services, trade finance has struggled to enter the digital age.

North Dakota Senate Rejects Bill To Regulate Apple App Store


Regulation App Store Apple Google legal News North Dakota regulations What's Hot

China Drafts Updates To Commercial Bank Regulations


International banking china international lenders Lending News people's bank of china regulations What's Hot

The regulator’s view of bitcoin, 2017

Chris Skinner

As mentioned on Friday, they see … The post The regulator’s view of bitcoin, 2017 appeared first on Chris Skinner's blog. Blockchain Digital Bank Fintech Grid Innovation Opinion RegulationAs part of the blockchain conference, I chaired a session with some central bankers talking about their views on distributed ledger technologies. These central banks have run trials and are thinking about it, but none of them are particularly big on blockchain right now.

Ant Group Overhauling Operations To Satisfy Chinese Regulators 


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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Massachusetts Regulators To Crack Down On Robinhood


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.

Regulators: damned if they do and damned if they don’t

Chris Skinner

I was running a fun panel on regulation this week. That kind of sounds like a lie – whatever can be fun about regulation – but hey, it was. I often reflect on the fact that regulators run with their eyes in the rear-view mirror. They can’t see what’s ahead … The post Regulators: damned if they do and damned if they don’t appeared first on Chris Skinner's blog. Grid Regulation

Is Big Tech good or bad for banking … the regulator’s view

Chris Skinner

Following on from Facebook’s announcement of its own digital currency Libra, the key regulatory body of banking – the Bank for International Settlements (BIS) – which sets standards like the Basel capital reserve requirements, has stepped into the debate and produced a report on their view of the threat and … The post Is Big Tech good or bad for banking … the regulator’s view appeared first on Chris Skinner's blog. Fintech Future Grid Regulation

Mexican Regulator Says Credit, Debit Processing Too Highly Concentrated


According to Mexican regulators, the two companies in charge of the country's credit and debit settlements represent "a near monopoly," and big businesses need to sell shares in those companies, the Associated Press (AP) reported.

EU Privacy Regulators Disagree On Twitter Fine


The Wall Street Journal reported that the disagreement was disclosed by Ireland’s Data Protection Commission, one of the EU’s privacy regulators. The Irish regulator did not say which entities objected to its proposed decision, or on what grounds.

ECB's Lagarde: Bitcoin A Money Laundering Tool, Needs More Regulation


Bitcoin is about to get even more scrutiny by regulators, on a global stage. As reported by Reuters this week, Lagarde said at a conference sponsored by the newswire that bitcoin should be regulated — worldwide. She went on to say that “there has to be regulation.

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UK Regulator Awards Full Bank License To Cashplus


Cashplus was granted an unrestricted banking license by the Prudential Regulation Authority on Wednesday (Feb. Bank Regulation bank regulation Cashplus Digital Banking international mobile News SMBs What's Hot

NJ Legislators Propose Tighter Data Privacy Regulations


The California Consumer Privacy Act went into effect in January, and the European Union’s General Data Protection Regulation ( GDPR ) went into effect in 2018. Retailers of all sizes will be forced to prepare for new, stricter regulations. Regulation Big Tech bill data privacy digital privacy laws legal Legislation new jersey News regulations user data What's Hot

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Report: As Crypto Becomes More Popular, Regulation Will Increase


But in doing so, it will now face more scrutiny from regulators, Bloomberg reported. Regulation will be more of an issue for crypto companies the bigger and more ubiquitous they become, Bloomberg reported. Cryptocurrency Bitcoin cryptocurrency News regulations What's Hot

Regulation Crowdfunding Tackles The Startups Shunned By Banks


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.