These operations had been legally challenged by credit card companies, which currently dominate this type of activity in Chile.
The Economist magazine's intelligence unit (EIU) has published a report on regulatory support for financial inclusion in developing countries and it is now gaining traction with press and analysts; the report scores countries on having an inclusiveness strategy and building governmental and private sector expertise, then provides in-depth details in areas including credit markets, non-regulated lenders, payments and insurance; Colombia ties Peru this year for the most progressive country; India has shown the most improvement; Latin America and East/South Asia are leaders regionally while Africa and the Middle East remain behind; the EIU performed the research in conjunction with the Center for Financial Inclusion at Accion and the Multilateral Investment Fund at the Inter-American Development Bank. Source
The need for increased protection and Travel Rule compliance are two lessons DeFi needs to learn, Notabene CEO Pelle Braendgaard said.
Binance said it would pull out of the FTX deal in a tweet, citing corporate due diligence and media reports.
Look beyond the initial aftereffects of recent market shocks and there are plenty of positive developments happening in blockchain-related industries, the leader of a global investment firm believes.
Gensler said his biggest worry about the equity market was competition and consolidation. While retail investing has taken off, the PFOF that enables it is ripe for conflict of interest.
A look back at the most popular fintech stories, podcasts and cartoons of 2023.
The Securities and Exchange Commission (SEC), a financial government agency overseen by the Financial Stability Oversight Council, held a fintech forum discussing the industry; industry speakers included Ram Ahluwalia from PeerIQ and Matt Burton from Orchard; SEC speakers included Mary Jo White and Michael Piwowar; Mary Jo White focused on fintech responsibility suggesting thorough testing of various aspects of the business before introduction; Michael Piwowar focused on fintech sandbox testing and suggested that the SEC should be the lead agency regulating fintech; in an announcement on Monday, Mary Jo White also said she would be leaving her role in January. Source
Patrick McHenry is one of the most proactive advocates for fintech in Congress; at LendIt USA 2017 he provided his insight from Congress on fintech and also spoke with Lend Academy in their podcast; his views are framing many of Washington D.C.'s legislative debates and his legislation, the Financial Services Innovation Act of 2016 (HR 6118), could be a significant factor helping to support future fintech innovation in the US. Source
'We have the emergence of great innovation, but it's often in highly regulated industries, where regulators only have very blunt instruments to support that.'