The Central Bank of Honduras has warned Hondurans about the risks of digital assets based on lack of legal backing in the country.
The Central Bank of Russia has created a working group with experts from the country's crowdfunding platforms in order to develop a regulatory framework for the crowdfunding industry; the working group will develop regulatory proposals for submission to regulators during the regulatory framework development process; the Russian market appears to be taking a proactive approach as the industry is emerging with 500 million rubles (USD 7,748,755) in total liabilities. Source
The financial metaverse would be better served by truly stable currencies but the powers-that-be need to join in.
Latam regulators show growing interest in the technology that powers cryptocurrencies. Brazil is to begin pilot tests for its CBDC this month.
SoftBank Vision Fund and Tiger Global led a new $60 million funding for the blockchain security firm.
The Center for Financial Inclusion at Accion (CFI) and the Institute of International Finance (IIF) in collaboration with the MetLife Foundation have released a report on financial inclusion; the report focuses on how partnerships between mainstream financial institutions and fintechs are expanding financial inclusion; findings are based on 24 in-depth interviews with firms and experts from around the world with emphasis on the emerging markets; the report is part of a two-year financial inclusion project from CFI, IIF and the MetLife Foundation called "Mainstreaming Financial Inclusion: Best Practices." Source
The Center for Financial Inclusion (CFI) has released a report discussing financial inclusion partnerships between financial institutions and fintech companies; findings from the report were generated from 24 in-depth interviews with individuals leading financial inclusion in the industry and highlights 14 financial inclusion partnerships identified by CFI as best-case scenarios; the partnership case studies cover four financial inclusion challenges including: access to new market segments, new offerings for existing customers, data management, and deepening customer engagement and product usage. Source
Apple’s announced buy now, pay later (BNPL) service—Apple Pay Later—is being investigated by the Consumer Financial Protection Bureau (CFPB), the consumer finance regulator in the US.
The bureau is seeking comments from the public through March 31 concerning fees on bank accounts, credit cards and other financial products that may be seen as excessive or unexpected.
Some big tech firms “have sought to gain greater control over the flow of money in our economy,” Consumer Financial Protection Bureau Director Rohit Chopra told senators. His comments came after the agency demanded information from large tech companies about their payment offerings.