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Latest Results from /regulation

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EU agrees game-changing deal for instant payments

The European Council and European Parliament have struck a provisional agreement on the mandatory provision of instant credit transfers in euros and access to central bank payment rails by non-bank e-money institutions and stablecoin issuers.

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CFPB proposes oversight of Big Tech digital wallets

The Consumer Financial Protection Bureau (CFPB) wants to regulate tech giants such as Apple and Google that offer digital payment apps and wallets.

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FCA warns banks over APP fraud and poor treatment of victims

With authorised push payment fraud on the rise, the FCA says banks should strengthen anti-crime systems and must treat victims of fraud better.

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Musk and Sunak talk AI regulation at the UK’s AI Safety Summit

Towards the end of the UK’s AI Safety Summit taking place this week, Prime Minister Rishi Sunak and tech tycoon Elon Musk sat down for a conversation on artificial intelligence (AI).

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PayPal receives SEC subpoena over stablecoin

PayPal has received a subpoena from the Securities and Exchange Commission (SEC) requesting documentation about its recently launched stablecoin.

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Revolut hires former Deutsche Bank regulatory lead as UK CEO

Revolut has drafted in Francesca Carlesi, a fintech founder and former Deutsche Bank and Barclays executive, as its new UK chief executive as it continues its long quest for a banking licence.

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Remittance app Sendwave hit with CFPB penalty

The Consumer Financial Protection Bureau has slapped the operator of remittance app Sendwave with a $1.5 million penalty for deceiving users about the costs and speed of international transfers.

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MAS bars DBS from new business ventures and branch closures

The Monetary Authority of Singapore has barred DBS from acquiring new business ventures or shrinking its branch and ATM network as part of an effort to restore the resilience of its digital banking services following a series of disruptive outages.

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Global regulators form asset tokenisation policy forum

Financial regulators from the UK, Singapore, Switzerland and Japan are collaborating on a new project to explore fund and asset tokenisation use cases and decentralised finance.

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Survey reveals firms doubts over data quality

As many as three quarters of corporate, trust and fund services firms do not trust their own data, suggests recently published research.

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Thai bank buys stake in crypto exchange

Thailand's second-largest bank has acquired a 97% stake in a company that runs a crypto exchange.

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Elon Musk wants X to replace users' bank accounts within a year

Elon Musk wants X to manage users' "entire financial life" so that they "won't need a bank account" by the end of next year.