SEC Chair: Congress Should Regulate Crypto Exchanges

PYMNTS

Securities and Exchange Commission (SEC) Chairman Gary Gensler said he thinks the cryptocurrency market, now worth $2 trillion, needs more regulation, CoinDesk reported. Cryptocurrency cryptocurrency Editors' Picks News regulations SEC Securities and Exchange Commission What's Hot

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

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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 Regulation

Wirecard’s regulator faces criminal probe as scandal expands

Payments Source

Accounting regulations Wirecard Germany

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?

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

Regulators Take Aim At Cryptos' ‘Wild West’ Environment

PYMNTS

The group would then make recommendations aimed at improving regulation of cryptos. The European Union has introduced legislation that would seek to regulate cryptos across the 27-member bloc, with a focus on combating money laundering and terrorist financing.

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. Future Grid Payments RegulationI was going to write stuff about this but The Financial Stability Board did it for me.

European Central Banks Demand Strict Cryptocurrency Regulations

PYMNTS

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.

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.

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.

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.

German, Australian, British Regulators Unite For Tougher Big Tech Mandates

PYMNTS

Antitrust regulators in the U.K., Competition regulators in Australia are among other countries’ competition officials that are launching probes into tech monopolies. Regulation Amazon Antitrust Apple Big Tech Facebook Google News technology regulation What's Hot

Regulators Seek Input On FIs’ Use Of AI

PYMNTS

High tech continues to make inroads in financial services, and now regulators want more insight — and input — into how technologies such as artificial intelligence (AI) can and are being used by enterprises.

NJ Legislators Propose Tighter Data Privacy Regulations

PYMNTS

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.

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Regulators eye big data impact on ratemaking

Daily Fintech

The post Regulators eye big data impact on ratemaking appeared first on Daily Fintech. InsurTech #bigdata #predictivemodels #ratemaking #regulatorIn insurance, big data connotes unstructured and structured data that influences underwriting, rating, and pricing.

House Bill Requires Regulators To Create Digital Assets Working Group

PYMNTS

House of Representatives this week would create a digital asset working group designed to promote collaboration between regulators and the private sector to encourage innovation, according to a press release from Financial Services Republicans. A bill passed by the U.S.

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

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.

Regulations Could Be In The Works For Stablecoins 

PYMNTS

As the cryptocurrency landscape is likely to be altered, at least somewhat, by regulations and new debates over whether bitcoin and its alternatives are securities or tokens, the same regulatory gaze might be tightening around stablecoins.

Big Tech Faces Regulation Reckoning As 2021 Dawns

PYMNTS

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 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.

SEC's Peirce Says Clear Crypto Regulations Are A Must

PYMNTS

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.

UK Regulator Seeks Tailored Rules For Big Tech

PYMNTS

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.

Merchants Get Clarity Around Compliance As Global Payment Regulations Evolve

PYMNTS

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

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

India Regulators Investigate Google Pay Antitrust Concerns

PYMNTS

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.

Google 163

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

The UK’s New Big Tech Regulator Comes To Town

PYMNTS

has created a new Big Tech regulator for firms like Google and Facebook with the purported goal of protecting the nation’s competitive media landscape, and attempting to discover if a code of conduct could improve the balance of power between large digital platforms and official news publishers.

China Drafts Updates To Commercial Bank Regulations

PYMNTS

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

Regulators Line Up For Trade Finance Modernization

PYMNTS

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.

Chinese Regulators Take Over Nine FIs

PYMNTS

Chinese regulators have seized control of nine financial institutions (FIs) alleging they violated rules and jeopardized the country’s financial system. Only through a regulator takeover can the problems be forcibly dealt with through administrative measures.”.

Russia to Regulate Cryptocurrencies in 2017

Bank Innovation

Russia will start regulating cryptocurrency trading by the end of the year, according to the country’s Finance Minister. It is possible to regulate them, so the […]. Cryptocurrency Bitcoin Bitcoin regulation cryptocurrencies RussiaAt the Moscow Financial Forum on Friday, Russian Finance Minister Anton Siluanov said: The state certainly understands that cryptocurrencies are a reality, there is no point in prohibiting them.