Lexology

California Regulator Seeking Comments on “Agent of the Payee” Exemption to Money Transmission Law

USA - February 13 2019 Several states exempt from their money transmission law, either through statute or regulatory guidance, an “agent of the payee.” California is one…

Crypto founder’s death elevates taking a secret to the grave to the next level

Australia - February 12 2019 In an age where cyber security breaches are a near daily occurrence, and where we’re frequently reminded to keep our passwords secret and safe, the…

Massachusetts State Senators Seek to Enact Biometric Data Protection Law

USA - February 11 2019 The rise of Big Data and the development of tools to interpret massive data sets to better understand consumer behavior have led to booming demand…

Global Financial Innovation Network Launch

Hong Kong - February 11 2019 The Global Financial Innovation Network (GFIN) has been formally launched by an international group of financial regulators and related organisations…

The Global Financial Innovation Network invites Fintech start-ups to test their products and services across borders

Australia - February 8 2019 On 1 February 2019, the Australian Securities and Investments Commission (ASIC) announced its participation in the recently created Global Financial…

UK FCA New Guidance on Cryptoassets

United Kingdom - February 4 2019 The UK Financial Conduct Authority (FCA) has issued its consultation paper, Guidance on Cryptoassets. It focuses on where cryptoassets interact with…

Islamic-compliant Cryptocurrency Exchange Certified

United Arab Emirates - February 1 2019 Rain, a cryptocurrency exchange in Bahrain has received a Shari’a compliance certification from Shariyah Review Bureau (SRB). SRB is licensed by the…

Australian Buy Now Pay Later businesses discuss the utility of Open Banking Regime

Australia - January 31 2019 On 22 January 2018, two of the largest ‘buy now, pay later’ businesses in Australia, Afterpay and Zip.co, appeared at a hearing before the Senate’s…

EU supervisors call for EU-wide policy response to crypto-assets

European Union - January 17 2019 The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) published two complementary assessments of the…

Empire “Blockchain” Building

USA - January 17 2019 The New York City Economic Development Corporation (NYCEDC) is looking at 2019 with fresh eyes. Although digital coin prices plummeted in 2018, some…