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China, Australia Regulators Agree to Share Fintech Information

Bank Innovation

Chinese and Australian regulators are partnering up on fintech. The Australian Securities and Investment Commission (ASIC) and the China Securities Regulatory Commission (CSRC) have agreed to share fintech information with the other party.

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Turning Compliance Burden Into FinTech-Regulator Collaboration

PYMNTS

In recent years, the market has gone from one struggling with high financial illiteracy and limited card acceptance, to a bright spot in Europe for FinTech innovation. Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. But financial regulatory compliance can be a headache for any market.

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JP Morgan: Treasury Innovations Accelerate Digital Transformation

PYMNTS

Morgan , the successful treasury transformation in the Asia Pacific region hinges on digitization — and not simply electronification. That is higher than the percentages registered in other regions such as Europe, the Middle East and Africa (EMEA) and Latin America, where rates have been in the 50-plus percent levels.

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Deep Dive: COVID-19?s Global Impact On Open Banking And Online Privacy Regulations

PYMNTS

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. The COVID-19 pandemic’s impact on daily business has generated new questions surrounding these initiatives that regulators are now scrambling to answer. and the EU. Australia and Canada.

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How Cannabis Can Become A B2B Payments Innovation Influencer

PYMNTS

For several years, while state-level legalization has expanded, access to traditional banks remains an issue thanks to their status as federally regulated entities. It’s why, said Muller, payment innovators in the cannabis market must keep a macro view while targeting micro use-cases and user populations.

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EU Considers Tightening AI Regulations For ‘High-Risk’ Sectors

PYMNTS

The information comes from a draft of a “white paper” obtained by Bloomberg. Critics say that stringent data protection laws like the EU’s could hinder innovation around AI, but EU officials say they want to harmonize and streamline rules in the region. Facial recognition is among the things the EU might look at regulating.

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US Finance Crimes Org Calls For Private Sector Innovation

PYMNTS

The Financial Crimes Enforcement Network ( FinCEN ) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector companies that have developed tech to fight money laundering and terrorist financing, the organization said in a release. FinCEN expects to hold events in the Washington, D.C.