07/20/2023
Germany’s BaFin provides updated order on the prevention of money laundering at N26
In October 2021, BaFin sanctioned the bank with a €4.25 million fine for money laundering failures.
Legal,Regulation,Tax & Compliance
07/19/2023
Encompass unveils whitepaper to guide banks towards pKYC transformation
The whitepaper was authored by Encompass’s KYC Transformation Director Howard Wimpory and Global Head of Industry and Regulatory Affairs, Dr Henry Balani.
07/19/2023
Atlanta-based fintech Greenwood in lawsuit over failed acquisition payments
After acquiring The Gathering Spot in 2022, Greenwood, an Atlanta-based fintech, is facing allegations of fraud and missed payments. They’re countersuing.
07/18/2023
Block sues Visa and Mastercard over interchange fees
“As retail prices increase in response to inflated fees, consumers can afford less and thus purchase less, reducing output.”
07/14/2023
Unpacking Amazon’s legal challenge to its Digital Services Act designation
Online platforms were obliged to self-assess whether they fell within the scope of the VLOP or VLOSE provisions
07/14/2023
Ripple scores partial win in SEC lawsuit
The SEC filed suit against Ripple, Garlinghouse and co-founder Christian Larsen in 2020, alleging that they "raised over $1.3 billion through an unregistered, ongoing digital asset securities offering".
07/13/2023
Embedded lending: Defacto closes €167m securitisation
Citi and Viola Credit are Defacto’s deal partners for the new securitisation fund.
07/11/2023
In-house legal teams must get fit now for generative AI age
Most businesses acknowledge the technology’s potential, but few have managed to really embrace its everyday use in operations.
07/11/2023
Bailey calls for 'public debate' on digital pound introduction
A 'major step'
07/10/2023
Finmo Eyes Singapore Launch With In-Principle Approval for Payment License
This will grant Singapore businesses access to Finmo’s comprehensive suite of global payments services, including its current product and service offerings across Asia Pacific.
07/06/2023
PSR seeks views on recent changes to fees charged by card schemes
It outlines recent changes to these fees
07/05/2023
MAS Doubles Down on Investor Protection With New DPT Requirements
MAS will proceed with the proposal to restrict DPT service providers from facilitating lending or staking of their retail customers’ DPTs.
07/05/2023
Carey Olsen supports digital asset trading firm Elwood with groundbreaking investment business licence
The Carey Olsen team advising was led by partner and Jersey head of digital assets Chris Griffin
07/04/2023
Paradise Mobile signs MOU with AALTO HAPS
AALTO’s Zephyr is described as the most persistent ‘high altitude platform station’ on the planet.
07/04/2023
Thai SEC Issues New Rules for Crypto Firms, Bans Lending Services
These new rules will come into effect on 31 July 2023.
07/04/2023
Inpay secures EMI licence
The new licence will enable the company to issue electronic money, facilitate digital payments and money disbursements, among other payment services and is a landmark for the business.
07/03/2023
Behind Singapore’s Experiment with a Digital Version of SGD
The paper provides a technical overview of the concept of PBM, defining it as “a protocol that specifies the conditions upon which an underlying digital money can be used.
06/30/2023
The EU and UK go head to head on fintech regulation
It’s been a busy week for new financial services rules from both the UK and EU, but also a thawing of relations.
06/29/2023
TISE & Shieldpay announce strategic partnership to transform private market transactions
Through this partnership, more businesses will have the opportunity to benefit from the efficiency and cost-effectiveness the integrated platform offers
06/29/2023
‘Weight of Compliance’ Hits Financial Firms With Two-Thirds Concerned about Committing an AML Breach
SmartSearch warned that sophisticated criminals can easily forge official documents