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Topic: Fintech

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Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading

Report on CBDCs

On 9 July 2021, there was published a report on central bank digital currencies (CBDCs). The report was released by the Committee on Payments and Market Infrastructures, the Bank for International Settlements Innovation Hub, the International Monetary Fund and the World Bank. The report looks at how CBDCs could facilitate enhanced cross-border payments, and how … Continue Reading

BIS and BoE launch Innovation Hub London centre

On 11 June 2021, the Bank for International Settlements (BIS) and the Bank of England announced the launch of a BIS Innovation Hub London Centre, the fourth new Innovation Hub Centre to be opened in the past two years. The launch is part of a plan to expand the Hub’s global reach, which also includes … Continue Reading

Basel Committee consults on prudential treatment of cryptoasset exposures

On 10 June 2021, the Basel Committee on Banking Supervision (BCBS) launched a public consultation on the prudential treatment of cryptoasset exposures by credit institutions. Following on from the BCBS’ December 2019 discussion paper where it sought stakeholders’ views on a range of issues relating to the prudential treatment of cryptoassets, the current consultation document … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading

Navigating global crypto-custody requirements

29 April 2021 09:00 – 10:00 BST / 16:00 – 17:00 HKT 16:00 – 17:00 BST / 11:00 – 12:00 EDT As the global crypto-economy continues to grow and mature, one area stands out as a critical core capability: custody. In this webinar, members of our global financial services team will compare notes on their … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

GLEIF unveils issuance and infrastructure models for verifiable LEI system

On 11 February 2021, the Global Legal Entity Identifier Foundation (GLEIF) published issuance and technical infrastructure models for its recently announced verifiable LEI (vLEI) system. A vLEI is a secure digital attestation of a conventional LEI. When fully developed, the vLEI will enable instant and automated identity verification between counterparties operating across all industry sectors, … Continue Reading

Part 3: The expansion of virtual currencies – Are virtual assets businesses ready for regulators?

Senior management and boards are increasingly acknowledging the threat of financial crime as a critical risk to their business that must be addressed. This has been exacerbated in the last 12 months through the impact of the pandemic as well as rising domestic and international tensions. Our financial crime compliance specialists, located in the UK, … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

DeFi: Insurance / Alternative Risk Coverage

In this series of blogposts, we explore some of the main types of decentralised finance (DeFi) applications (dApps), and key areas of legal risk that may be of particular relevance for that type of application or product. In this second blogpost in the series, we consider the nature of tokenised insurance or alternative risk coverage … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

MiCA: Regulating provision of services in crypto-assets

On September 24, 2020 the European Commission published its long-anticipated Digital Finance package, comprising legislative proposals and non-legislative communications. One of the legislative proposals published included a draft regulation on markets in crypto-assets (MiCA). MiCA is the first European-level legislative initiative aiming to introduce a harmonized and comprehensive framework for the issuance, application and provision … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

FSB final report – Effective practices for cyber incident response and recovery

On 19 October 2020, the Financial Stability Board (FSB) published a toolkit of effective practices for financial institutions’ cyber incident response and recovery (CIRR). The toolkit draws on the feedback from a public consultation process, including four virtual outreach meetings. The report was delivered to G20 Finance Ministers and Central Bank Governors for their October … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

FSB publishes high-level recommendations for regulation, supervision and oversight of “global stablecoin” arrangements

On 13 October 2020, the Financial Stability Board (FSB) published the final version of its high-level recommendations for the regulation, supervision and oversight of “global stablecoin” (GSC) arrangements following an earlier public consultation. The report states that GSC arrangements are expected to adhere to all applicable regulatory standards and to address risks to financial stability … Continue Reading

Global AML watchdog issues virtual assets red flag indicators

The Financial Action Task Force (FATF), a global intergovernmental organization that sets standards and policies for anti-money laundering and counter-terrorist financing (AML/CFT) recently issued a report on Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing (the Report). According to the FATF, a virtual asset is a digital representation of value that can … Continue Reading

Central banks and BIS publish first central bank digital currency report laying out key requirements

On 9 October 2020, the Bank for International Settlements (BIS) published a report, Central bank digital currencies: foundational principles and core features. The report was compiled by the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, Sveriges Riksbank, the Swiss National Bank and the BIS. … Continue Reading

FSB report highlights increased use of RegTech and SupTech

On 9 October 2020, the Financial Stability Board (FSB) published a report on the use of supervisory (SupTech) and regulatory (RegTech) technology by FSB members and regulated institutions. The report notes that SupTech and RegTech tools could have important benefits for financial stability. For authorities, the use of SupTech could improve oversight, surveillance and analytical … Continue Reading

What is DeFi?

In this series of blogposts, we explore some of the main types of decentralised finance applications and key areas of legal risk that may be of particular relevance for that type of application or product. In this first blogpost, we consider the nature of decentralised finance itself. What is DeFi? Decentralised finance (or DeFi) is … Continue Reading

SWIFT publishes “Follow the Money” report to aid comprehension of money laundering risks underpinning large-scale cyber-heists

In September 2020, SWIFT (a global member-owned cooperative and provider of secure financial messaging services) published a report to support market participants in understanding the money laundering techniques which underpin large-scale cyber-attacks. The report sets out the end-to-end journey commonly used by criminals to launder funds obtained through illicit cyber-crime related activities, and focusses on … Continue Reading
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