Insights Archive

June 19, 2024

Phoenix Payments Hit With Hefty Fine In Latest Lithuania Crackdown

The Bank of Lithuania has signalled its commitment to tightening compliance in the payments and e-money sector, handing out fines totalling more than €1m for breaches of compliance.

June 19, 2024

UK Tribunal Allows Interchange Fee Lawsuits Against Visa And Mastercard To Proceed

Any merchant accepting card payments in the UK can now bring a claim against card network operators under a ruling by the Competition Appeal Tribunal.

June 19, 2024

Daily Dash: India Aims To Fight Fraud Through Central Bank 'Payments Intelligence Platform'

India has proposed the creation of a digital payments intelligence platform that will be used to fight fraud, while the UK’s Financial Conduct Authority has imposed restrictions on e-money firm AstroPay.

June 18, 2024

European Authorities Issue Warnings To Public Over Euros Gambling

As the UEFA European Football Championship kicks off, European gambling regulators have warned about sports gambling with illegal operators and the risk of addiction.

June 18, 2024

Thailand Seeks Applicants For Programmable Payments Trial

Financial institutions have the opportunity to work with the Bank of Thailand on exploring the potential of smart contracts and distributed ledger technology in payments as part of a new regulatory sandbox project.

June 18, 2024

EU Transfer Of Funds Regulation Needs Better Market Surveillance, Dutch Minister Says

The Dutch minister of finance has formally requested the European Commission to consider amending the Transfer of Funds Regulation to better facilitate market surveillance and consumer protection operations.

June 18, 2024

EBA Clarifies Fraud Reporting, SCA Requirements Under PSD2

Payments companies at both ends of fraudulent transactions must report them to the European Banking Authority (EBA), and must maintain separate security authentication for different processes they offer, the regulator has said in an answer to questions from regulated companies about the Payment Services Directive (PSD2).

June 18, 2024

Daily Dash: EU Extends Sanctions On Russia Over Crimea Annexation Until June 2025

The EU has announced that its long-standing sanctions against Russia over Crimea will continue, while Hungary welcomed a surge in digital payments during Q1 this year.

June 17, 2024

Massachusetts May Follow Other States In Targeting Bovada's U.S. Operations

Massachusetts regulators are considering joining at least two other states in ordering offshore online betting platform Bovada to exit the state’s gaming market.

June 17, 2024

U.S. Supreme Court Rejects Challenge To Florida Online Sports Betting

The U.S. Supreme Court has rejected an effort to overturn online sports betting in Florida, denying a request by West Flagler Associates and Bonita-Fort Myers Corp. to hear their petition questioning the legality of a 2021 gaming compact between the state and the Seminole Tribe.

June 17, 2024

Daily Dash: US Treasury Expands Secondary Sanctions Against Russia

The US Treasury has announced that it will pursue foreign financial institutions that do business with sanctioned Russian banks, while the European Banking Authority has published new stablecoin and e-money standards under MiCA.

June 17, 2024

UK Payments Bills Upended By Snap Election Will Be Back, Lawmaker Says

A member of the House of Lords has said that several key bills that will affect payments firms should return to parliament following the UK’s snap election.

June 17, 2024

Credit Card Competition Act Impact On Rewards Could Restructure US Arena

Americans could see a reduction in credit card reward schemes if the Credit Card Competition Act comes into effect, although exactly how much is up for debate, as networks weigh up the regulation’s squeeze on their interchange fees against the desire to offer better rewards than their competitors.

June 17, 2024

UK Political Manifestos Reveal Broad Support For Fintech

Last week, UK political parties released their manifestos, with both the governing Conservative Party and the leading Labour Party committing to advance fintech issues.

June 17, 2024

Australia Probes Bet365 Over Online Betting Vouchers

Australia’s federal minister responsible for online gambling has referred corporate bookmaker bet365 to the regulator over online vouchers that may circumvent new credit card bans.

June 17, 2024

Dutch Gambling Braces For Hostile State Secretary

The new Dutch minister for gambling is expected to come from a party that has publicly called for the open online gambling market to be closed.

June 14, 2024

U.S. Sports-Betting Operators Not Exiting High Tax States, Yet

Illinois and Ohio have increased their take from a growing online sports-betting business, but analysts warn that lawmakers run the risk of going too far and damaging the industry should other state legislatures follow their lead and raise taxes.

June 14, 2024

Brazil Operators Seek Clarity About Permissible Casino Games

Following a positive resolution to one key pending policy question, industry groups are now hoping that Brazil's new gambling regulator will take inspiration from Italy in allowing for a wide range of casino-style games to be offered under the guise of fixed-odds betting.

June 14, 2024

News In Brief: June 10-June 14, 2024

Sweden's gambling regulator is to appeal a ruling that forced it to end enforcement against payments company Zimpler and Indonesia's President has begun a new crackdown on all forms of gambling.

June 14, 2024

UK Labour Party 'Gambling Regulation Reform' Lacks Details

The UK Labour Party is “committed to reducing gambling-related harm”, according to its 2024 manifesto, which pledges unspecified reforms to gambling regulation.

June 14, 2024

Regulatory Influencer: Australian Digital ID Bill Receives Royal Assent

Australia’s Digital ID Bill received royal assent on May 30 to become the Digital ID Act 2024. This act will come into effect on November 20, 2024, establishing a comprehensive government-run digital ID system in Australia.