Insights Archive

March 21, 2022

FCA Hunts For Crypto Chief As It Redoubles Focus On The Emerging Tech

In a move that highlights the growing regulatory focus on crypto-assets, the UK's Financial Conduct Authority (FCA) has begun a search for a new head to lead a department dedicated to the supervision of crypto-related businesses.

March 21, 2022

Taiwan Court Convicts Two For Online Gaming Customer Support

A Taiwanese court has convicted two Suncity-linked individuals of providing customer support for a live baccarat website out of the Philippines, offering a first hard indication that broad junket-style gambling services breach Taiwanese law.

March 21, 2022

Kentucky House Passes Sports-Betting, Grey-Market Games Bills

Kentucky took a step toward legalizing sports betting and banning grey-market slot machines on Friday after the state's House of Representatives approved two bills, but left decisions on proposals to establish a problem gambling fund and reset taxes on pari-mutuel wagering for another day.

March 21, 2022

Chancellor Raises Racing Industry Concerns Over UK Gambling Review

Chancellor Rishi Sunak has raised concerns that the review of UK gambling laws could have a dramatic impact on the racing industry.

March 18, 2022

German Competition Watchdog To Allow Further Development Of Giropay

The Bundeskartellamt, Germany’s antitrust authority, has said it has no objections to the further development of the giropay online payment system after the payment service provider conceded on initial plans for an exclusivity agreement.

March 18, 2022

Week In Brief - March 18, 2022

A short roundup of some of the week's payments news you may have missed. This week we look at further growth of UK contactless payments, the United States spearhead’s Russian oligarch taskforce, the exemption of Australian banks from crypto registration and whether the EU might crackdown on use of personal data for targeted advertising.

March 18, 2022

NY Regulator Fines MoneyGram For AML Failures

MoneyGram has been slapped with a fine after it failed to properly supervise agents engaging in suspicious transactions to China, New York’s state regulator has announced.

March 18, 2022

Ohio Regulators Not Expecting To Max Out Sports-Betting Licenses

Despite a plethora of opportunities for sports-betting operators to gain access to the lucrative Ohio market, gaming regulators expect the Buckeye State to ultimately follow in line with established U.S. jurisdictions.

March 18, 2022

Federal Probe Delays Diller, IAC Licensing For MGM Resorts Investment

The Nevada license application for investor Barry Diller was returned to staff Thursday for further investigation after a decision on his suitability and approval of IAC/InterActiveCorp’s $1bn investment in MGM Resorts International was put on hold due to a federal probe into stock option trades.

March 18, 2022

Star Casino Inquiry Alleges Massive Masking Of Gaming Funds

A regulatory review of The Star Entertainment Group’s casino licence in Sydney has started dismally for the company, with the inquiry accusing it of masking hundreds of millions of dollars in gambling funds to avoid breaching bank agreements.

March 18, 2022

Dutch Advertising Restrictions Inbound

The Netherlands is planning to introduce more gambling advertising restrictions, including a ban on non-targeted online ads and the use of celebrities in promotions, in response to political concerns.

March 17, 2022

The Right Balance? Payments Insiders React To CMA’s VRP Clarification

The UK's Competition and Markets Authority (CMA) has published its standards for what sweeping can and cannot be used for when variable recurring payments (VRPs) are introduced in July this year.

March 17, 2022

France’s Prudential Supervisor Outlines PSD2 Review Wishlist

In its new report, the ACPR, France’s prudential regulator, has laid out what needs to be addressed in the upcoming review of the revised Payment Services Directive (PSD2), while also highlighting the issues that the payments ecosystem currently faces.

March 17, 2022

Complex Regulation Drives Soaring UK Compliance Costs

UK banks pay billions to ensure compliance with anti-money laundering regulations, but the mounting regulatory pressure may push businesses over the tipping point, a report has warned.

March 17, 2022

Super Apps, BNPL, Crypto Are Now Global Payments Trends

FIS’ annual survey of global payments says the rules that once limited those participating in money movement have been rewritten as payments continue to be redefined, revisited and reimagined. In Europe, this includes buy now, pay later (BNPL) entering the mainstream, and continued leadership in real-time payments and open banking.

March 17, 2022

Gambling Costs Norway Over €520m, Says Study

Problem gamblers cost Norwegian society NOK5.1bn (€520.5m), according to a survey undertaken by the National Competence Center for Gambling Research at the University of Bergen.

March 17, 2022

Kentucky Sports-Betting Bill Wins Unanimous Support Of House Committee

Republican state Representative Adam Koenig has successfully guided his latest proposal to legalize sports betting in Kentucky out of committee and onto the General Assembly’s agenda, but its passage is far from assured.

March 17, 2022

Lone U.S. Sports-Betting Holdout Benefits As March Madness Returns

As the betting frenzy known as March Madness commences today, the National Collegiate Athletic Association stands alone among all major U.S. sports organizations in refusing to fully enter the lucrative sports-betting market.

March 17, 2022

News In Brief: March 14-March 18, 2022

The UK government is to scrutinise Allywn's lottery victory, Swedish pandemic measures of uncertain effectiveness and Ontario's regulator issues a reminder.

March 16, 2022

I TWINT You! Switzerland’s Payments Landscape

As with its neighbours in the DACH region, Switzerland has long been a lover of cash payments. However a popular domestic payments scheme has pushed the country increasingly towards digital payments.

March 16, 2022

Bitcoin Ban Kicked Out By EU Parliament, As It Passes MiCA Draft

The European Parliament’s Economic and Monetary Affairs Committee has voted down an amendment that would have effectively banned Bitcoin and other energy-intensive crypto-assets in the trading bloc.