Regulatory 

PRA revises depositor and dormant account protection supervisory statement

The PRA has published an updated version of its supervisory statement on depositor and dormant account protection (SS18/15). 

PRA, July 2015 

Advocate General says bitcoin should be exempt from VAT

Advocate General Juliane Kokott came to the conclusion that cryptocurrencies such as bitcoin should be exempt from value-added tax (VAT), following a Swedish court asking for guidance. 

Finextra, 17July 2015 

UK 

UK account switching service sees only a 4% increase of movement

The current account switching service (Cass) has only seen a four per cent increase in the number of people moving providers over the last year. 

Finextra, 21 July 2015 

Coinsilium plans to list in London

Coinsilium’s CEO Eddy Travia explains about its plans to list on the Alternative Investment Market of the London Stock Exchange in August and how it intends to use IPO funds to invest and support early-stage companies as well as expand existing holdings in start-ups within its portfolio. 

Coinsilium, 15 July 2015 

TfL issues guidance with Apple Pay

Transport for London has issued guidance on Apple Pay and has advised passengers that they should have enough battery in order to complete a journey. 

TfL, July 2015 

WORLDWIDE 

First Data in multibillion dollar lPO

First Data has filed for an IPO that is estimated to raise somewhere between $25 and $40 billion. 
Finextra, 21 July 2015 

Equity Bank launches Equitel

Kenyan based, Equity Bank has launched its mobile money and banking service Equitel with the aim of stepping up banking access across the country. 

Equity Bank, 20 July 2015 

PayPal celebrates Nasdaq listing following eBay separation

PayPal Holdings has announced its separation from eBay Inc and is now an independent public company trading on the Nasdaq Stock Market. 

PayPal, 20 July 2015 

Bitcoin capital investment exceeds 2014

The level of venture capital (VC) investment in bitcoin companies in 2015 has already surpassed the amount invested in 2014. 

Finextra, 17 July 2015 

BCBS consultation on proposed revised version of general guide to account opening

The Basel Committee on Banking Supervision (BCBS) has published a consultation paper on its general guide to account opening. Responses are required by 22 October 2015. 

BCBS, July 2015 

Samsung Pay begins testing mobile payments service

Samsung is beta-testing its mobile payments service and is running trials for the next month. 

Retail Week, 14 July 2015 

RESEARCH

Faster Payments will drive bank account switching

According to a YouGov and ACI Worldwide online survey of more than 2,000 UK adults, the appetite for faster, easier and more convenient payment methods is rising rapidly. 
ACI, 20 July 2015