Tag "European Union"

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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