Category: Regulation
-
FinTech Ebury Supports Payments Platform LoopingOne To Get EMI License
•
Ebury (website) has now injected €800,000 into the know-your-customer (KYC) and payments platform LoopingOne (website) to seal the partnership. The goal is to develop the LoopingOne product further and obtain a license as an Electronic Money Institution (EMI) with the Dutch Central Bank (DNB).
-
False Rumours About China’s Fintech Giant Ant Group’s Revived IPO Plans!
•
In 2020, banking regulators had halted plans for an initial public offering of Alibaba’s payment subsidiary, Ant Group. Alibaba and its founder Jack Ma had fallen out of favor with Chinese regulators. Recently, rumors about revived IPO plans spread. However, Ant Group denied such plans and the shares of Alibaba…
-
Court Rules That Maltese FIAU Imposed Excessive Fine On Collapsed Satabank
•
A fine imposed on the collapsed Bulgarian-owned laundromat Satabank plc by Malta’s Financial Intelligence Analysis Unit (FIAU) has been slashed from €327,500 to €68,000 after the bank appealed the penalty. The FIAU announced that a fine they had issued against the bank in October 2018 had been reduced by the…
-
Bravo! Japan Regulates Stablecoins To Protect Investors
•
The collapse of the TerraUSD (UST) stablecoin, whose total value swelled to $18 billion before collapsing earlier in early May 2022. Crypto investors lost billions. Japan became one of the first major jurisdictions to introduce a legal framework around stablecoins. Japan’s parliament passed a bill, defining them essentially as digital…
-
Fighting Cyber Treats – EU Provisional Agreement On Cybersecurity And Resilience!
•
The EU is strengthening the IT protection of monetary entities, including banks, coverage corporations, and funding companies. On 10 Maz 2022, the EU Council presidency and the European Parliament reached a provisional agreement on the Digital Operational Resilience Act (DORA), which will make sure the financial sector in Europe is…