Since the Non-Bank Deposit Takers Act 2013 was approved and became effective in May 2014, the Reserve Bank of New Zealand has licensed 31 non-bank deposit-takers (NBDTs).“Licensing can’t prevent an...
The European Central Bank (ECB) and the Bank of England (BoE) have announced measures to enhance financial stability in relation to centrally cleared markets within the EU. They have agreed on...
Stanley Fischer, vice chair of the board of governors of the Federal Reserve System, gave a speech at a conference organised by the Bundesbank and the German Ministry of Finance in Frankfurt am...
The Central Bank of the United Arab Emirates has reviewed applications submitted by banks and other financial institutions relating to the Digital Payments Project. The board of the central bank...
The Bank of Israel has created a series of measures to promote the use of debit transactions in the payment cards market, with the aim of creating uniformity in the fee schedules of the companies,...
In December 2014, former Commonwealth Bank chief executive David Murray presented the final report of a financial system inquiry, which makes recommendations to promote the efficiency, resilience...
A major new report on terrorism financing has laid bare tactics used by ISIS to bypass regulatory blockades and net millions of dollars in funding through avenues such as Twitter and Skype.
Rodolfo Marco Torres, minister of economy, finance and public banking, and Nelson Merentes, the central bank president, announced on February 10, 2015 the new system which will be "totally free",...
Azerbaijani President Ilham Aliyev issued a decree approved a regulation on the system "Payment ASAN" the last 12 Feb 2015.
Central Bank launch second phase of the electronic money system (SDE) allowing users to set up accounts and it will begin acting as a real means of payment.The system launched in December 2014 is...
Anna Izzo-Wagner, Volker Baas and Lea Maria Siering from Taylor Wessing law firm discuss some of the major implications of the revised Payment Services Directive for the German payment services...
Russian state-controlled oil company Rosneft’s fight against political sanctions is heading to the European Court of Justice (CJEU) following a discrepancy in the definition of payment processing...
Ben Regnard-Weinrabe, partner, and Rachael Welham, trainee solicitor, at Paul Hastings law firm take a detailed look at what key changes the proposed second Payment Services Directive will make to...
Adam Atlas, attorney at law, and Saranya Danasekaran, student at law, discuss the regulation of the cryto-currency Bitcoin at federal and state level in the United States.
New York is to finalize its regulatory stance towards Bitcoin in January, with special licenses to help start-ups and small businesses dealing in crypto-currency cope with “crushing” compliance costs.
South Korea has eased strict regulations on mandatory online payment security software, as part of an ongoing effort to slash financial red tape and continue its growing e-commerce development.

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