Insights Archive

December 22, 2022

Week In Crypto: FTX Execs Plead Guilty To Fraud, Binance Financials Probed As Auditor Quits

Breaking news as two top executives associated with FTX plead guilty to criminal fraud charges. Meanwhile, Sam Bankman-Fried’s extradition to the US is confirmed and doubts are raised over Binance’s elusive balance sheet.

December 22, 2022

Durbin’s US Credit Card Bill Not On Congress’ Agenda

2023 is going to end without US Congress acting on the widely-disputed Credit Card Competition Act after it failed to make it into the government’s omnibus spending bill.

December 22, 2022

EU Banks Weigh On Online Consumer Protection Proposal

The European Banking Federation has said the Payment Service Directive should prevail over new online consumer protection rules and that legislators must ensure they do not create unnecessary friction in the consumer journey.

December 22, 2022

Daily Dash: Young Google Users Can Now Pester Parents To Pay For Purchases

Google brings pester power into the digital age allowing kids to request payment from their parents for app purchases, McDonald's launches automated Drive Thru payments in South Korea and Bolsonaro signs new crypto law in Brazil.

December 22, 2022

Manila's Pasig Region Set To Ban Online Gambling Operations

The elected council of one of Metro Manila’s more prominent regions has banned local and foreign-facing online gambling and related services within its city limits.

December 22, 2022

Gaming Industry Faces Battle To Improve Its Media Image

The fallout continues from last month’s series of articles by the New York Times on the U.S. sports-betting industry, and it is not clear how the industry can devise a strategy to respond to negative news coverage as betting and casino companies expand their markets.

December 22, 2022

Oregon Committee Wants Ongoing Oversight Role On Gambling

A special legislative committee on gambling regulation is seeking a more permanent role in steering gaming policy in Oregon and has recommended a pause in any expansion of lottery games or sports betting pending further study.

December 22, 2022

EU Online Casinos Key Mafia Laundering Tool, Says Study

There are few better tools than online casinos for criminals to launder their illicit funds, according to a new study on money laundering in the European Union.

December 22, 2022

News In Brief: December 19-December 23, 2022

BetMGM reveal customer data hacked six months ago and Maverick completes Evergreen Gaming acquisition.

December 22, 2022

Ukrainian Parliament Preps Blocklist With New Gambling Bills

Ukraine is preparing a blocklist of unlicensed operators and new rules to make it harder for Russian-backed operators to slip into the market, as it continues to root out companies linked to the nation invading its territory.

December 21, 2022

Nine UK Banks Unite To Launch New Non-Profit Access To Cash Company

Led by UK Finance, a financial services trade association, nine banks have come together to launch Cash Access UK, a new non-profit company focused on high-street access to cash.

December 21, 2022

2022 Wrap-Up: Key Payment Regulatory Developments in the EU and the UK

This overview provides details of the key 2022 regulatory developments across the EU and the UK within the financial sector, and those which will continue into 2023. The main regulatory developments have involved areas such as consumer credit (buy now, pay later - BNPL), consumer protection, anti-money laundering (AML), crypto-assets and the sanctions regimes imposed on Russia as a consequence of the conflict in Ukraine.

December 21, 2022

VIXIO Impact Index: November Fall Bucks Previous Seasonal Rises

As Regulatory Impact unexpectedly fell in the month of November, VIXIO discusses preparation of the UK’s new Consumer Duty, something that will have significant impact on payments, and considers reasons behind the falling regulatory activity in Canada.

December 21, 2022

TSB Apologises After £48.6m Fine For Operational Resilience Failures

The chief executive of TSB Bank has apologised to customers after being hit by a £48.6m fine in the UK for operational risk management and resilience failures.

December 21, 2022

Canadian Financial Firms Push For Wider Access To Payments Systems

A group of financial organisations has urged the Canadian government to expand access to the central payment infrastructure in next year’s budget bill.

December 21, 2022

Penn Entertainment Boss Defends Barstool Brand Before Massachusetts Regulators

Penn Entertainment CEO Jay Snowden mounted a vigorous defense of the company's Barstool Sportsbook betting brand before the Massachusetts Gaming Commission on Tuesday and heavily criticized a New York Times series that took aim at Barstool founder Dave Portnoy.

December 21, 2022

Battle Over Austrian Gambling Refunds Moves To Malta

Litigation finance companies that have successfully sued online gambling companies for player refunds in Austria are now pressing claims in Malta, where many of the operators are headquartered.

December 21, 2022

Indiana, New York Favorites For Internet Gaming Legalization In 2023

Indiana lawmakers will have another chance to consider legislation to regulate internet gaming when they return to the state capitol next month for their 2023 legislative session, according to Republican Representative Ethan Manning.

December 21, 2022

Swedish Government Submits Long-Awaited Safer Market Bill

Sweden’s government has submitted its long-awaited bill on measures to bolster payment blocking and further combat match-fixing.

December 20, 2022

Consortium Chosen To Launch Payments Pilot Using EU Digital ID Wallet

A multi-country consortium has been chosen to deliver a pan-European cross-border payments pilot, in line with the aims of the EU Digital Identity Wallet programme.

December 20, 2022

Switzerland Gives Industry Until Mid-2024 To Build Open Finance

Switzerland’s industry-led open finance approach is gaining ground, so policymakers have decided not to intervene until June 2024.