Real-time payments (RTP), account-to-account (A2A) payments and instant payments all refer to the ability to process payments in seconds. This is one of the next frontiers in retail payments in most countries around the world. It is already a reality in countries like the U.S.,...
Senator Elizabeth Warren (D-Mass.) has said the Securities and Exchange Commission should act on the turmoil in the crypto world, with crypto platforms going bankrupt and investors not able to take funds out from some of them. Speaking to Yahoo Finance Sunday (July 17), Warren...
This week in TechREG in Europe, the Middle East and Africa (EMEA), global regulators and several central banks discussed the need for regulating the cryptocurrency space. While the European Central Bank (ECB) urged a quick implementation of the new European Union rules on crypto, the...
This week in TechREG, state regulators have been very active proposing new regulations and taking enforcement actions. California probed several crypto lenders for suspending withdrawals and transfers as this may violate the law. The same state also announced that public comments for its new privacy...
The U.S. Chamber of Commerce filed a lawsuit against the Federal Trade Commission (FTC) seeking information about its decision making processes. “The FTC is pursuing an aggressive agenda with far-reaching implications for American businesses and the economy. It is bypassing longstanding norms to expansively regulate...
The European Parliament‘s (EP) Internal Market and Consumer Protection Committee almost unanimously approved on Tuesday (July 12) the new EU rules that, according to lawmakers, “aim at protecting consumers online from credit card debt, overdrafts and loans that are unsuitable for their financial situation.” The...
On Wednesday (July 13), the Treasury Committee at the U.K. Parliament sent letters to Visa and Mastercard requesting them to explain their increases in cross-border interchange fees after the U.K. left the European Union. The companies have until July 27 to respond. This inquiry comes...
Today in TechREG, the U.K. Parliament sent letters to Visa and Mastercard demanding an explanation for the increase on cross-border fees after the U.K. left the European Union. The inquiry came after the payment regulator in the U.K. signaled that Visa and Mastercard’s increases may...
The Bank for International Settlements (BIS) and the International Organization of Securities Commissions (IOSCO) published on Wednesday (July 13) their guidance on the application of financial market infrastructure rules to stablecoins, including the entities that provide stablecoins. The main message is that when a stablecoin...
