Managers of Wealth Fintech

FSS Korea Mulls New Crypto Rules to Counter ‘Kimchi Premium’

Suspicious foreign exchange remittances are said to be on a steep rise.

Ambitious plans to boost UK fintech and financial services set out by Chancellor

Ambitious new plans to help fintechs scale up and ensure the UK remains at the cutting edge of digitalising finance were announced by the Chancellor today (19 April 2021).

Terms of Central Bank Digital Currency Taskforce: Terms of Reference

This document sets out the Terms of Reference for the Central Bank Digital Currency (CBDC) Taskforce.

Crypto payments banned in Turkey — Is this just the beginning?

Turkey’s vibrant ecosystem took a hit from the new crypto payments ban, and industry participants speak out on potential implications.

U.S. banks deploy AI to monitor customers, workers amid tech backlash

Bobby Dominguez, chief information security officer at City National, said smartphones that unlock via a face scan have paved the way.

City of London calls for 'paradigm shift' in tech at banks

RegTech refers to the emerging use of technology to streamline and cut compliance costs at financial firms, such as for reporting data on market transactions to regulators and spotting crime.

Credit Karma taps Bud Open Banking platform to help members find better products

The platform analyses and enriches members' banking data, creating insights that power new personalised services for customers.

HSBC bans customers from buying bitcoin-backer MicroStrategy shares

MicroStrategy declined to comment.

US tax plan takes aim at offshore centres

Any tax deductions claimed by companies that make payments to related parties in low-tax jurisdictions would be eliminated.

Sydney Court Jails Man for Cryptocurrency Money Laundering

The investigation uncovered that the same man was withdrawing cash from accounts in seven different names.

New watchdog to boost online competition launches

A tough new regulator to help make sure tech giants such as Facebook and Google cannot exploit their market dominance to crowd out competition and stifle innovation online has launched.

South African exchange control – relaxation of loop structures

The level of disclosure required needs to be balanced against any potential tax and estate duty savings and most importantly whether the return on the investment outperforms current returns on invested funds.

Costa Rican Banks Strengthen Themselves to Counter the Growing Digital Scams

Educational campaigns would help stop cyber criminals

Canadian securities regulators outline regulatory framework for compliance for crypto asset trading platforms

“The guidance in our notice details steps platform operators need to take to comply with securities legislation as they prepare to fully integrate into the Canadian regulatory structure,” said Louis Morisset

Raisin dials up its pension ambitions with Mambu workplace rollout

A key customer win for Dr Alexander Kihm and the Raisin Pension team.

Hong Kong becomes a global centre for investors of virtual assets, an increasingly viable asset class in the city, finds KPMG

Clear regulatory guidelines and maturing service offerings are key drivers

Instagram influencer has defrauded his million followers out of $2.5 million in a Bitcoin for cash scheme – He claimed to be worth $33m but had $162 in his bank account

The 25-year-old Instagram star had induced victims to send him Bitcoin in exchange for wire transfers of cash, but he never sent the money in reality.

Legal,Regulation,Tax & Compliance