Insights Archive

February 28, 2023

UPDATE: US Financial Data Privacy Law Introduced In Congress

Patrick McHenry, the chairman of the House Financial Services Committee, has formally introduced a bill that seeks to modernise the 20+ year-old federal privacy law.

February 28, 2023

Up Your Compliance Game, Bank Of Lithuania Tells Payments Firms

Lithuania’s central bank has chastised payments and electronic money institutions in the country, telling VIXIO that the rapid growth currently being experienced in the sector must go hand-in-hand with better compliance.

February 28, 2023

New York Regulators Approve New Sports-Betting Advertising Rules

New York regulators approved a set of proposed rules on Monday that would enact new marketing restrictions on college campuses and severely limit affiliate marketing agreements.

February 28, 2023

Czech Finance Minister Targets Gambling Tax Hike

The Czech Republic’s finance minister, Zbyněk Stanjura, has said he is planning to introduce a higher tax rate for gambling.

February 28, 2023

Operators, Affiliates Seek Changes To Massachusetts Marketing Regulations

The Massachusetts Gaming Commission is scheduled to vote on Wednesday on amendments to its operative rule prohibiting marketing affiliate revenue-share or cost-per-acquisition deals, following public input from affiliate representatives and sports-betting operators.

February 27, 2023

UK Government’s Payment Services Regulations Review and Call for Evidence

This analysis focuses on the objectives of the review, as well as what the government has intentionally left outside its scope, its connection with other government initiatives and potential impacts on the payments industry.

February 27, 2023

Data Dive: Exploring Northern Europe’s Dominance In EU Payments Licensing

Following new data published by the European Banking Authority exploring the authorisation processes of payment firms between 2019 and 2021 across the EU, VIXIO takes a brief look at the trends behind these numbers, which show significant activity in Northern Europe.

February 27, 2023

US Axes Low-Cost Cross-Border Service Due To Low Adoption

The US Federal Reserve has announced the end of its little-known international ACH service called FedGlobal to Europe and Canada in the coming months.

February 27, 2023

UK Industry Claims ’No Real Competition’ In Card Acquiring

The Payment Systems Regulator has issued a call for evidence as part of its investigation into whether there is enough competition in the card scheme and processing market.

February 27, 2023

FSB Unveils Action Plan For G20 Cross-Border Payments Roadmap

The Financial Stability Board (FSB) has published a new report setting out its priority actions for achieving the G20 targets on enhancing cross-border payments, and has called on further input from industry leaders.

February 27, 2023

States' Short Sessions Leave Tight Timelines To Pass Gambling Bills

Virginia has become the first state to wrap up its legislative session for 2023, with a bill on problem gambling scoring approval but other proposals related to casinos and sports-betting taxes are left for further discussion as part of the budget process.

February 27, 2023

Gibraltar Supreme Court Grants £5m Asset Freeze In Mansion Case Against Ex-CEO

The Supreme Court of Gibraltar has granted a £5m worldwide freezing order against Mansion Gibraltar's former chief executive and de facto chief financial officer, Karel Christian Manasco.

February 24, 2023

US State Seeks Federal Consumer Protection Power Following Bank Merger Fiasco

The Connecticut state attorney general is seeking new investigative authority to enforce federal consumer financial protection rules after several consumers were left without access to online banking and debit accounts during a bank merger process. If granted, it could have wide implications for US payment firms.

February 24, 2023

SCA Must Be Consumer Duty Compliant, Says UK Regulator

The UK’s Financial Conduct Authority (FCA) has written to payments firms outlining what they need to consider when implementing the Consumer Duty in its latest communication on the controversial new compliance requirement.

February 24, 2023

Week In Crypto: Binance Named In US Money Laundering, Drug Trafficking Probe

Another money laundering case closes in on Binance, FTX Japan customers to be made whole again and Coinbase earnings reveal that revenue is down more than 75 percent year-on-year.

February 24, 2023

Daily Dash: Ex-Mastercard Chief Gets Biden’s Endorsement For World Bank

President Biden has endorsed a former Mastercard boss for the World Bank presidency, US card skimming attacks are on the rise and New York regulator boosts crypto fraud detection powers.

February 24, 2023

New York To Tighten Regulations For Sports-Betting Advertising

The New York State Gaming Commission is proposing to ban advertising on college campuses and require clearer disclosures for player bonuses as part of new rules to govern sports-betting advertising due to be taken up next week.

February 24, 2023

U.S. Legislative Flurry Sees One iGaming Bill Die, While Another Lives On

With key legislative deadlines approaching in several states, this week there has been a flurry of activity that includes new sports-betting bills, sports wagering and internet gaming bills advancing, and in one closely-watched state, online casino legislation dying for another year.

February 24, 2023

French Regulator Seeks Reduction In Spend From Problem Gamblers

The French gambling regulator has called on operators to prioritise reducing their share of gross gaming revenue generated by problem gamblers in 2023.

February 23, 2023

Visa, Mastercard Targeted In UK With New Multi-Billion Card Fee Claim

Harcus Parker, a UK-based commercial litigation law firm, is to launch a second class action lawsuit against Mastercard and Visa on behalf of merchants.

February 23, 2023

Nigeria Supreme Court Postpones Ruling On Cash Swap Until After Election

Nigeria’s Supreme Court has voted to postpone a key decision on the withdrawal of "old series" naira banknotes until after the country’s presidential election following criticism.