Tag "regulation"

A COVID-19 Regulatory Guide for Financial Institutions in Europe

Amid the COVID-19 pandemic, regulators across Europe have put in place various measures to ensure continuity and sustainability of the financial sector. In a new guide released earlier this month, international law firm Baker McKenzie provides information on key policies

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European Commission Unveils AI, Data Strategy

In a whitepaper released last month, the European Commission (EC) unveiled its strategy to promote the development of artificial intelligence (AI) in Europe whilst ensuring the respect of fundamental rights. The whitepaper outlines the institution’s plan to develop what it

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Coordinated Stablecoin EU Approach / Switzerland Rejects Cryptofranc Proposal

The European Council and Commission have issued a joint statement in which the two bodies call for a “coordinated approach” in regulating crypto-assets. The statement puts a focus on so-called stablecoins which, given their global nature, pose multifaceted challenges and

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Libra: Despite Claims, Facebook Has Yet To Contact Swiss Data Protection Authority

During a hearing in the US Senate, David Marcus, the head of Facebook’s digital currency project Libra, said that Swiss authorities will be overseeing data and privacy protections for its Libra cryptocurrency. But a spokesperson for the Federal Data Protection

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Fintech Infographic of the Week: The World of Regtech

Regulatory technology, or regtech, is an emerging field within the fintech industry that utilizes information technology to enhance and streamline regulatory processes. The main functions of regtech are regulatory monitoring, reporting and compliance, with companies in the space using technologies

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EU Calls for a European Blockchain Infrastructure

The blockchain ecosystem has been steadily maturing over the past several years and projects are getting both larger and closer to going live, or have already done so. 2019 is set to witness several large platforms attract significant user bases,

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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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Switzerland Works on Possible Blockchain/ICO Regulation

With blockchain and cryptocurrency gaining more traction day after day, the Swiss government is now exploring the possibility of introducing legal amendments to current legislative instruments to facilitate the development of blockchain technology. The blockchain/initial coin offering (ICO) working group

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Deutsche Bank Whitepaper Explores Open APIs, Cloud, Blockchain and AI Regulations

The emergence of new technology solutions leveraging open APIs, cloud, blockchain and artificial intelligence (AI) has driven increasing volumes of digital data, as well as new market players, business models and evolving client expectations. Given the disruptive potential of these

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