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

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. Digital Bank Future Grid Opinion Regulation

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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?

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.

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 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.

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?

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.

NJ 271

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

Chris Skinner

Fintech Future Grid Regulation

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. Grid Regulation

Brussels To Investigate German Regulator Over Wirecard

PYMNTS

He also said the EU should investigate whether the German regulator broke the law if ESMA determines BaFin failed to uphold the bloc’s financial reporting rules. The Wirecard scandal surrounding the German payment processor missing $1.2 billion has spilled over the border to Belgium.

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.

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 Regulation

Deep Dive: How SMBs Can Brace For Changing Digital Payment Regulations

PYMNTS

Keeping up with customers’ shifting behaviors and preferences amid changing regulations is a familiar challenge for today’s small- to medium-sized businesses (SMBs), but the pandemic’s impact on the scale of digital payments has steepened the learning curve for these merchants.

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 Russia

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.

Ireland Crypto Regulation Looms

PYMNTS

In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector. Separately, in India, the action toward crypto regulation seems to be … inaction.

Regulations, Innovations, Sandboxes and #RegTech

Chris Skinner

So I just attended a really interesting two day meeting that covered all things blockchain, regulations, innovation and more. The Regulatory Sandbox was announced at … The post Regulations, Innovations, Sandboxes and #RegTech appeared first on Chris Skinner's blog.

The regulator’s view of Facebook’s Libra currency

Chris Skinner

I’m avoiding calling it a cryptocurrency, as it’s more a stablecoin that is focused upon transactions, which is why it has Visa, … The post The regulator’s view of Facebook’s Libra currency appeared first on Chris Skinner's blog.

Japan and Swiss Regulators Sign Fintech Pact

Bank Innovation

The Japanese Financial Services Agency, or FSA, has signed a fintech letter of cooperation with Swiss regulators the Financial Market Supervisory Authority, the agencies announced yesterday.

Banking Regulators Release April 2020 BSA/AML Examination Manual Updates

Abrigo

The post Banking Regulators Release April 2020 BSA/AML Examination Manual Updates appeared first on Abrigo. BSA Rules and Regulation BSA Training BSA/AMLKey Takeaways The FFIEC updated four sections of the 2014 BSA/AML Examination Manual.

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.

Lawmakers Push To Fast-Track Crypto Regulation

PYMNTS

regulators and politicians increase their focus on big tech and associated areas, with recent hearings targeting Facebook and Google. Even so, “regulation remains a stumbling block to cryptocurrency’s wider adoption,” the report continued. Are new bitcoin rules coming?

Mexican Central Bank to Regulate Cryptocurrency

Bank Innovation

Mexican President Enrique Peña Nieto is presenting a legislation that proposes to regulate cryptocurrency to the Mexican Senate today, according to reports. Cryptocurrency Exclusive Bank of Mexico Bitcoin Bitcoin regulation cryptocurrency fintechs Mexico

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.

The Move To Regulate IoT

PYMNTS

With increased adoption, though, comes a need for improved regulations, and both the European Telecommunications Standards Institute (ETSI) and U.S. Congress have released rules to help regulate IoT data security.

Regulators Detail Banking Rules For Hemp Firms

PYMNTS

If banks have additional questions regarding the Agriculture Improvement Act of 2018 (2018 Farm Bill) and its regulations, they can contact the USDA, state departments of agriculture and tribal governments.

Shape the future of European FinTech regulations

Chris Skinner

The EBA is taking forward work … The post Shape the future of European FinTech regulations appeared first on Chris Skinner's blog. Fintech Future Grid Reading Regulation

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 regulation

Can Regulating Wearables Protect Data Privacy?

PYMNTS

Another recently introduced piece of legislation aims to protect individuals by regulating facial-recognition cameras. In the feature story, Le discussed how device manufacturers can help foster that trust, and the need for regulation to secure healthcare data and connected devices.

Airbnb Supports EU Regulator For Digital Platforms

PYMNTS

29) that it supports plans to establish a digital regulator. The short-term home rental firm won an exemption from European property regulations in a ruling last month of the Court of Justice of the European Union (CJEU), Reuters reported.

Source: German Regulators Failed To Take Action On Wirecard Red Flags

PYMNTS

Numerous regulators had discussions over the years about tightening supervision on Wirecard or adding it to a list of potential subjects for more investigations, but all decided against it, Reuters reports.

Zuckerberg Advocates Internet Regulation

PYMNTS

Facebook CEO Mark Zuckerberg wrote an opinion piece in The Washington Post calling on regulators to take a “more active role” in making rules for how to police the internet, according to reports. “By Facebook content internet Legislation News Opinion Piece Policing Regulators rules Washington Post What's Hot zuckerberg

Antitrust Regulators Investigate Proposed Dairy Megamerger

PYMNTS

Regulators are looking into a possible merger between Dean Foods and Dairy Farmers of America (DFA) and its potential antitrust implications for the industry, according to a report by The Wall Street Journal.

India Regulators Investigate Zomato-Uber Eats Deal

PYMNTS

Zomato, an India-based food delivery startup, is reportedly being investigated by regulators for its purchase of Uber Eats India, which could be seen as violating the nation’s anti-competitive rules, sources told MoneyControl.com.