Bank Innovation

APRIL 5, 2018

The Reserve Bank of India (RBI) strikes cryptocurrency again. This time India’s central bank issued a statement today banning all entities that fall under its regulation, from dealing with any cryptocurrencies. Today’s statement read: Technological innovations, including […].

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CFPB Monitor

DECEMBER 9, 2022

Last week, Ballard Spahr launched an innovative online application to help cryptocurrency and blockchain industry participants keep pace with quickly evolving laws, regulations, policies, and government enforcement priorities in the space. The Cryptocurrency and Blockchain Legislative Tracker is an interactive.

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Abrigo

MARCH 8, 2024

Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 3 Education and technology tools are our best defense against b ank wire transfer fraud in our institutions. While wire transfers offer speed and efficiency, they have always carried inherent risks.

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PYMNTS

OCTOBER 9, 2020

Bitcoin and other cryptocurrencies are continuing to attract attention from authorities for all the wrong reasons. Justice Department report is taking aim at the “emerging threats and enforcement challenges” associated with digital currencies, establishing a “Cryptocurrency Enforcement Framework” to address problems.

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Chris Skinner

MARCH 19, 2018

I had a chat with The Financial Times the other day, and provided lots of background as to why I don’t think cryptocurrencies are the choice of criminals.

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TheGuardian

JUNE 10, 2021

Growth of crypto-assets threatens financial stability and could increase risks faced by banks, they warn Global regulators have said cryptocurrencies such as bitcoin should come with the toughest bank capital rules to avoid putting the wider financial system at risk should their value collapse suddenly.

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PYMNTS

JANUARY 4, 2019

A New York State politician announced the creation of what he called the nation’s first cryptocurrency task force, to “study how to properly regulate, define and use” the currency, according to a Facebook post and reports. Cryptocurrency, however, is more than just an asset that stores value.

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PYMNTS

DECEMBER 9, 2020

There are currently more than 5,500 different cryptocurrencies in circulation, but the biggest name in the business — and often a metonym for the industry itself — is bitcoin. regulations.”. compliance regulations or have the necessary equivalent documents for verification. The year 2020 saw 18.42

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PYMNTS

MARCH 18, 2019

JPMorgan Chase isn’t the only bank that has been working on a cryptocurrency. When Citi kicked off the development in 2015, it code-named the cryptocurrency Citicoin, but never formally announced the project. That’s not to say Citi is abandoning blockchain, the technology that underpins cryptocurrency.

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PYMNTS

APRIL 14, 2019

The International Monetary Fund ( IMF ) and the World Bank are partnering up to launch a private blockchain and “quasi-cryptocurrency.”. Since the coin has no monetary value, it’s not an actual cryptocurrency, according to The Financial Times.

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PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Regulators and lawmakers, however, can latch onto digital currency efforts as they must monitor and also supervise such stablecoins. In a paper that debuted Tuesday (Nov.

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PYMNTS

JULY 22, 2020

The Monetary Authority of Singapore (MAS) has proposed new regulations on cryptocurrency that will include those engaging in overseas activity, in an expansion on rules for the sector, according to a press release.

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CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.

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American Banker

NOVEMBER 4, 2024

Decentralized digital ledgers offer financial services supervisors extraordinary access to information while eliminating concerns about information reliability. That should be reflected in regulatory attitudes toward crypto.

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PYMNTS

JULY 15, 2019

India is reportedly considering a ban on cryptocurrencies. According to Cointelegraph , an unverified document published by tech lawyer Varun Sethi has been making the rounds on social media, showcasing a draft bill entitled “Banning of Cryptocurrency & Regulation of Official Digital Currencies.”.

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BankBazaar

NOVEMBER 18, 2022

Over the past few years, the sharp rise of cryptocurrencies has attracted investors from all over the world who want to diversify their portfolios and earn high returns. However, the impact of higher interest rates in the past year has impacted the cryptocurrency market, leading to a significant sell-off. What is Digital Rupee? .

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PYMNTS

SEPTEMBER 22, 2020

The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. . Jeremy Allaire , CEO of financial technology firm Circle , told PYMNTS that digital currencies are ready to transition from speculation to become a broadly adopted payments instrument.

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PYMNTS

DECEMBER 26, 2019

Chinese technology company Tencent has announced it’s going to start researching cryptocurrency and its implications for an ongoing project in blockchain, according to reports. In other recent crackdowns by China’s Communist authorities, companies have faced increasingly steep control and regulation by the government.

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Payments Source

FEBRUARY 22, 2018

lawmakers are launching an inquiry into cryptocurrencies to investigate their benefits and risks and consider how the new technology should be regulated.

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Banking Exchange

MAY 19, 2021

Corporation is the latest regulator to respond to the rapidly growing fintech market Compliance Technology Feature3 Fintech Blockchain Feature Financial Trends Bitcoin Cryptocurrency Compliance Management Compliance/Regulatory.

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PYMNTS

MAY 22, 2020

With new microchip tech by Cardano , cryptocurrency users would be able to access payment services without an internet connection. But it could also find a larger use worldwide by giving people without access to the internet the ability to use cryptocurrency — such as African farmers, only 2 percent of whom have smartphones.

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Banking Exchange

DECEMBER 15, 2021

Roadmap on digital asset investment and regulation to be released next year Technology Feature3 Feature Financial Trends Digital Cryptocurrency Bitcoin.

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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. It also solicits feedback on how to maximize stakeholder engagement.

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PYMNTS

AUGUST 10, 2017

Distributed ledger technology (blockchain) has made significant headway this year, and people are starting to take notice. At the beginning of 2017, the cryptocurrency bitcoin was valued at just under $1,000 and soared up to over $3,000 in May. This gives way to countries opting to integrate cryptocurrencies for their own use.

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PYMNTS

SEPTEMBER 23, 2020

Some fraudsters are even impersonating government officials and asking for personal information for stimulus payments, for example, while others are targeting cryptocurrencies. Technologies like video onboarding and AI have shown promise in facing this threat, but each is vulnerable when deployed alone. billion ($8.9 billion ($8.9

Technology 208

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NCR

APRIL 10, 2018

The Reserve Bank of India (RBI) has announced new measures prohibiting the country’s regulated financial institutions from dealing in cryptocurrencies, also known as virtual currencies (VCs). RBI stressed it had “repeatedly cautioned” users, holders and traders of cryptocurrencies about these issues.

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PYMNTS

AUGUST 17, 2017

The Securities and Exchange Commission is getting into the bitcoin market, saying it will regulate the popular digital currency and other cryptocurrencies. According to a report in Seeking Alpha , the SEC said the cryptocurrencies are subject to federal securities laws.

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Chris Skinner

JULY 29, 2019

I have this debate often: Why governments will fail to block the emergence of cryptocurrencies such as Bitcoin Can you have decentralised exchange without centralised control? Is the world being democratised through technology? How do governments regulate a networked world? A world without money A world without government? …

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PYMNTS

MAY 1, 2018

Regulators in the U.S. are considering the regulation of digital tokens outside bitcoin. The Wall Street Journal reported that the inquiry is focused on the cryptocurrency Ethereum, which hasn’t been in the crosshairs of regulators as of yet.

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PYMNTS

OCTOBER 26, 2017

It’s been a big year for cryptocurrency. This thing is not regulated, it’s not under control.”. Goldman Sachs joined in the conversation earlier this month, saying that bitcoin and cryptocurrencies like it are “ not the new gold ” and lose out to the precious metal in a “majority of the key characteristics of money.”.

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BankInovation

OCTOBER 29, 2021

Maybe, just maybe, the rationales for banking regulation don’t apply to cryptocurrency.

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Gonzobanker

NOVEMBER 22, 2022

Well, Gonzobankers, the smart, idealist and self-declared revolutionary crypto kids just bought themselves a future of regulation — intricate, overbearing, and frustrating regulation, and regulation that the market will now demand. Welcome to adulthood, y’all. What’s Next? But please, don’t get cocky.

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PYMNTS

JUNE 29, 2020

The European Union (EU) is preparing to update its cryptocurrency rules that could make it more difficult for stablecoin projects, such as Facebook Inc.’s Last fall, the Libra Association petitioned the Swiss Financial Market Supervisory Authority ( FINMA ) for a Swiss payment system license for its planned cryptocurrency.

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PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. ius noted, this is often because the heart of the cryptocurrency industry is often at odds with the nuances of regulation.

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Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

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PYMNTS

OCTOBER 31, 2017

The country’s state bank ruled that all cryptocurrency, not just Bitcoin, was an invalid form of payment. The financial authority released a statement last week declaring cryptocurrency an illegal, non-cash payment method. According to a statement from Martowardojo, users of cryptocurrency “would be dealt with.”

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Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

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