Tag "European Union"
EU Passes Uniform Legal Framework for Crypto-Assets Across the Bloc
The European Union’s (EU) Economic and Monetary Affairs Committee voted 28 to 1 in favour of the Markets in Crypto Assets regulation (MiCA), a uniform legal framework for crypto-assets in the EU. Under the MiCA, entities issuing and trading crypto-assets
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Finax Launches the First Pan-European Pension Product for Digital Nomads
Bratislava-based wealthtech Finax has become the first company to receive a license to offer a pan-European Personal Pension Product (PEPP) to clients in Slovakia. The PEPP is a portable, voluntary personal pension scheme regulated by the European Insurance and Occupational
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EU Report Looks Into Innovation Hubs And Regulatory Sandboxes
In recent years, governments in the European Union (EU) have launched numerous initiatives to facilitate financial innovation, including establishing so-called “innovation facilitators.” These typically take the form of innovation hubs and regulatory sandboxes. As of January 2019, 21 EU Member
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Alipay Accelerates EU Expansion with New Luxembourg E-Money License
Alipay, the mobile and digital payments platform of Ant Financial, Alibaba’s financial affiliate, has been granted an electronic money license in Luxembourg as the service accelerates its expansion across Europe. The launch of the new Luxembourg licensed entity, Alipay (Europe)
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European Regulators Call for Common EU-Wide Regulatory Approach for ICOs
The European Securities and Markets Authority (ESMA) has published its advice to the European Union (EU) institutions on crypto-assets and initial coin offerings (ICOs) regulation, calling for a common EU-wide regulatory approach. In its advice paper, ESMA notes that some
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26 Regulatory Initiatives that Will Shape Fintech in Europe and Beyond
In the banking industry’s quest towards open banking, standardisation has now become the name of the game towards global applicability. There is a consistent push and pull between whether these standards should come from regulators or industry players. On one
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Revolut Gets Swiss IBAN
UK mobile-only bank Revolut has reportedly gotten a Swiss IBAN number by opening a correspondence account with Credit Suisse, according to a report by Handelszeitung. The move allows Revolut’s 50,000+ Swiss customers to transfer money to their accounts via Swiss
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European Parliament Releases Study on Competition Issues in Fintech
The European Parliament (EP) has published a new study on the competition challenges arisen from the increasing number of fintech services provided by newcomer startups, traditional financial institutions and Big Tech companies. According to the paper, factors such as network
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EU Commission Proposal for a Regulation on European Crowdfunding
The proposal for a regulation on crowdfunding, adopted by the European Commission in March 2018, will enable crowdfunding platforms to easily provide their services across the EU. Platforms will have to comply with only one set of rules, both when
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EU’s Payment Services Directive (PSD2): What It Is And Why It Matters
Recent regulatory changes in Europe, including the Payment Services Directive (PSD2), are set to accelerate payments innovation. The Payment Services Directive (PSD) was initially adopted by the European Union (EU) in 2007 and aimed at providing a legal framework for
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