Malaysian Central Bank Focuses on Adapting FinTech Regulation
Malaysia is one of the most recent countries to look at its current regulatory guidelines and come up with changes to take part of the FinTech revolution. Keeping in mind how Bitcoin is a part of FinTech as well, these changes will have a rippling effect on cryptocurrency adoption. FinTech Regulation is a Double-edged Sword. Various countries around the....
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What is rather worrisome is the so-called Payment System Act. This legislative proposal is still awaiting government approval, NewsBTC understands. Regulation of Bitcoin has always been a topic of substantial debate. Some people see the benefit of being officially recognised, whereas others are not overly bothered by it. But if Bitcoin is to go mainstream, some regulation may be necessary for the long run. Bank of Thailand is working on a new set of fintech regulation that may affect Bitcoin as well. The central bank of Thailand has deemed the time right to introduce more fintech....
This new regulation is a first step towards supervising the fintech sector in Indonesia. Fintech is a trend that captivates audiences all over the world. A financial technology evolution is upon us, and it is only a matter of time until drastic changes occur. Indonesia is preparing for what the future may bring, by issuing a new regulation for fintech firms. To be more precise, the government focuses on P2P lending first and foremost. One of the many sectors fintech is “threatening” is the way people think about lending and borrowing money. In most cases, consumers and enterprises have to....
A senior central bank official has stated that the priority of the Bank of England is to create a regulatory approach to Fintech as it understands its impact, according to Reuters. Victoria Cleland, the BoE’s Chief Cashier, explained that the risks and advantages of digital currencies and blockchain were being assessed. This announcement by the BoE comes when policymakers in Britain want to know if London will remain the global centre for Fintech or if companies will move to other European countries instead. Cleland said that the BoE was working with firms in the Fintech sector to....
Jack Ma, the founder of the $239 bln e-commerce conglomerate Alibaba, was appointed by the Malaysian government to mentor companies in the various sectors of its digital economy. In early November of last year, Malaysian Prime Minister Najib Razak officially announced Ma’s important role in the country’s growing e-commerce industry as an adviser and mentor. Razak stated that the partnership between Ma and the Malaysian government will allow the nation’s e-commerce industry to grow exponentially towards the right direction. Razak stated: "We will be in partnership with Jack on the path....
The Moroccan central bank is currently holding talks with multilateral lending institutions and other central banks, centered on establishing cryptocurrency regulation best practices.
Inevitable Adoption of Cryptocurrencies
The Moroccan central bank governor, Abdul Latif Al Jawhari, has said his institution is currently in discussion with the International Monetary Fund (IMF) and the World Bank, about crypto regulation best practices, a report has said.
In addition to the two international financial institutions, the Central Bank of Morocco (CBM) is also in talks....