Insights Archive

October 20, 2021

FSB Chair Addresses Stablecoin And Climate Risks

The Financial Stability Board (FSB) is keeping a close eye on cryptocurrencies and climate-related complexities, Governor Randal K. Quarles has said in a speech.

October 20, 2021

U.S. Treasury Releases Sanctions Review

Sanctions designations, a major headache for financial institutions, have increased tenfold during the last 20 years, a new U.S. Treasury review finds, reminding the digital asset space that they too must comply.

October 20, 2021

Philippine QR Code Payment Expanded To P2M Transactions

Described as a milestone in the Philippines’ digital transformation journey, the expansion of the country’s QR payment service will enable merchants to accept payments for their goods and services across an interoperable payment network.

October 20, 2021

Retail CBDC Is Foundation For Future Payment System - DC Fintech Week

The existence of a domestic instant payment system does not set aside use cases of a general-purpose central bank digital currency (CBDC), the Thai central bank governor said at DC Fintech Week.

October 20, 2021

U.S. Treasury Grants AML Relief For Remote Registration

Federal anti-money laundering rules should not require U.S. sports betting or online casino operators to verify a player’s identity by inspecting a physical document upon opening an account, regulators have confirmed in a new ruling.

October 20, 2021

New York Mobile Sports-Betting Tax Set As High As 64 Percent

Operators bidding to offer mobile sports betting in New York could have to pay a tax rate as high as 64 percent on gross sports-betting revenues, according to a report on Tuesday.

October 20, 2021

Finnish PM Backs Budget To Cover Veikkaus Beneficiaries Shortfall

The Finnish government wants to set aside €332m in next year's budget to ensure non-government organisations do not miss out on any funding because of declining Veikkaus profits.

October 20, 2021

Dismissal Of Florida Challenge Of Seminole Compact Could Hurt Other Lawsuits

A federal judge’s dismissal of a lawsuit against the Florida-Seminole compact could set a damaging precedent for two other lawsuits against the compact in Washington, D.C.

October 19, 2021

HMT Payment Landscape Response Demonstrates Open Banking Sense Of Urgency

Open banking enabled payments could be a key driver of future competition between UK payments networks, but the adoption of such payments are still in the early stages, predominantly being used to make one-off payments, the government response to the Payments Landscape Review has cautioned.

October 19, 2021

News In Brief - October 19, 2021

Hong Kong’s Faster Payment System experiences an outage over the weekend.

October 19, 2021

Klarna Payments Circumvent Gambling Blocks, Says Gamban Co-Founder

Swedish fintech firm Klarna Bank has said customers cannot use any of its pay later or credit products to bet, but the co-founder of a gambling blocking software claims its direct bank transfer system circumvents personal account gambling payment blocks.

October 19, 2021

Randell Steps Down — FCA And PSR Chair To Leave In Spring 2022

Charles Randell has asked the UK’s Chancellor of the Exchequer to begin the process of finding his successor — a year earlier than expected.

October 19, 2021

U.S. Treasury Issues Report On Ransomware Trends And Sanctions Compliance Guidance For Crypto Firms

As part of a “whole-of-government” effort, the U.S. Treasury's new report finds an increasing threat from ransomware attacks, while it also offers guidance to help prevent the illicit use of virtual currencies by sanctioned persons.

October 19, 2021

Klarna Payments Circumvent Gambling Blocks, Says Gamban Co-Founder

October 19, 2021

Polish Ombudsman Wants To Overhaul Gambling Tax

A top official from a government-appointed business group has joined the chorus calling for Poland to reform its betting tax rates.

October 19, 2021

Bet-At-Home To Withdraw From Austria Over Player Lawsuits

Frankfurt-listed Bet-at-Home.com has said it is temporarily withdrawing its online casino operations in Austria, due to legal claims for reimbursement of player losses.

October 19, 2021

New Jersey Sports Betting Cracks $1bn Handle Barrier

The beginning of the 2021 National Football League (NFL) season and the marketing blitz that accompanied it boosted New Jersey sports-betting handle to a U.S. record $1.01bn in September, according to figures released on Monday.

October 18, 2021

UK Regulator Warns Of Work From Home Risks

COVID-19 may have seen working from home policies and flexible working revolutionised, but the UK’s financial watchdog has warned supervised firms to ensure compliance lapses do not creep in, should they choose to continue with a hybrid approach.

October 18, 2021

Give Us A Crypto Regulator, Coinbase Asks

Laws drafted in the 1930s to facilitate effective oversight of our financial markets could not contemplate this technological revolution, Coinbase has highlighted in a new discussion paper calling for the U.S. to create a new crypto regulator.

October 18, 2021

News In Brief - October 18, 2021

The EU’s banking watchdog has repealed its internet security guidelines for payments, while three technology firms in Singapore have launched a new platform to support environmentally friendly financial services.

October 18, 2021

The Brazilian Bitcoin Gaffe - Why Bitcoin Is Not Going To Be Legal Tender In Brazil Any Time Soon

It has been widely reported that Brazil was following El Salvador by making Bitcoin a legal tender. However, VIXIO sources say this is far from the truth.