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Fintech must serve the real economy, Chinese regulator says
In a speech at the Asian Financial Forum on Monday, Jiang Yang, vice chairman of the China Securities Regulatory Commission, said the development of fintech should support the wider economy, instead of profiting only "a small group of people."
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- Finance
- Region
- Asia Pacific
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India’s central bank wants to put a leash on the booming fintech sector
“Bringing fintech under the regulatory ambit should provide a level playing field and encourage financial innovations. In this context, the Reserve Bank (of India, RBI) is working on framing an appropriate response to the regulatory challenges posed by developments in fintech in India,” the central bank said in its Trend And Progress Of Banking In India report, released in December.
- Categories
- Finance
- Region
- South Asia
- Tags
- cryptocurrency, fintech, regulations
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Opinion: What the debate about Safaricom dominance is really about
That Safaricom is dominant in the voice, data and mobile money markets is not really debatable. What is debatable is what the regulator plans to do about it.
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- Finance
- Region
- Sub-Saharan Africa
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Kenya ops slam regulator for failing to curb Safaricom
Safaricom’s rival operators hit out at the Communications Authority of Kenya (CA) for failing to deal with the market leader’s dominance, after it removed controversial recommendations to split the company from a competition report.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech, regulations
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China Tightens Regulation Over Mobile Payment Apps — What’s Next For Tencent and Ant Financial?
Now that digital wallets like Ant Financial’s Alipay and Tencent’s Ten Pay have become near ubiquitous in the country, where the market for mobile payment reached $5.5 trillion as people use them to pay for clothes, groceries, taxi fares and utility bills, the government wants to bring oversight up to speed by regulating them exactly like banks, said Oliver Rui, a professor of finance at the China Europe International Business School in Shanghai (CEIBS).
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- Finance, Technology
- Region
- Asia Pacific
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Can the rise of cryptocurrency impact currency market in India?
Slowly, cryptocurrencies are coming under the regulatory net in order to check misuse. Japan recently became the first country to regulate cryptocurrencies; the US is quickly laying down regulatory guidelines, the UK and Australia continue to work on the formalities while China has recently banned Initial Coin Offerings (ICO) due to various reasons, including various ICO scams around the world.
Though India plays a relatively small role in the global cryptocurrency market, only about 2% of the global cryptocurrency market cap, the RBI has warned about the potential financial, legal, customer protection and security-related risks in cryptocurrency, amidst prevalent media rumours of RBI launching its own form of cryptocurrencynamed Lakshmi.- Categories
- Finance
- Region
- South Asia
- Tags
- cryptocurrency, fintech, regulations
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Ethical Investors Tightening Screws on Emerging-Market Debt Issuers
Prices on Vale and Samarco bonds plummeted by about a third after the disaster. Vale, along with mine co-owner BHP Billiton, is facing a multi-billion dollar claim.
Events like that are increasingly spurring fund managers to look closer at environmental, social and governance (ESG) risks before investing in emerging markets, where polluting industries and accounting issues have often gone unpunished.- Categories
- Uncategorized
- Region
- Latin America
- Tags
- regulations
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Bitcoin: Indonesia bars use by fintech firms
Indonesia’s central bank has issued a regulation banning use of cryptocurrencies by financial technology companies involved in payment systems, and said it is examining whether there’s a need to regulate trading on virtual currency exchanges.
- Categories
- Finance
- Region
- Asia Pacific