Insights Archive

April 21, 2022

‘Fast-Moving’ Fintech, Defi Need Tougher Regulations, Says New IMF Report

A new report from the International Monetary Fund (IMF) has called for greater regulation of “fast-moving” fintech firms, including neobanks and decentralised finance (defi) whose rapid growth could pose “systemic” risks to financial stability.

April 21, 2022

More Work To Be Done, FATF Compliance Report Says

No country can claim to have a perfect national framework to address money laundering, terrorist or proliferation financing, the Financial Action Task Force’s (FATF) president has said in a new report on compliance.

April 21, 2022

California Sports Betting Battle Top Of Mind At Tribal Gaming Convention

November’s election in California, which could feature as many as three different proposals to legalize sports betting in the state, is looming large over this year’s Indian Gaming Tradeshow and Convention.

April 21, 2022

German Regulator Faces Multiple Betting Lawsuits, Publication Says

Legal action has targeted provisions including those limiting live bets and setting a €1,000 monthly limit on deposits, according to German magazine WirtschaftsWoche. The council has been reviewing licence applications since January 2020 but on January 1, 2023, its authority passes to the planned central regulator, the Joint Gaming Authority for the Federal States (GGL). The council has supplied 41 licences, although some companies have several.

April 21, 2022

Senecas Take To The Streets In Gaming Feud With New York

About 200 people supporting the Seneca Nation marched in the streets of Buffalo, New York, last week as the tribe’s bitter conflict with Democratic Governor Kathy Hochul over gaming revenue continues to escalate.

April 21, 2022

German Football Club Pauses Unibet Sponsorship Over Lack Of Licence

Borussia Mönchengladbach of Germany’s Bundesliga football league has paused its sponsorship with Kindred’s Unibet as the online gambling operator has not yet obtained a German sports betting licence.

April 20, 2022

China’s Ant Group To Acquire Stake In Singapore Payments Firm 2C2P

After its aborted IPO in 2020, Ant Group is quietly building out its overseas business on a lighter budget, with its majority stake acquisition of a regional merchant payments platform.

April 20, 2022

ASPSPs Called Out As EBA Publishes Latest SCA Q&As

The European Banking Authority (EBA) has continued to clarify parts of the strong customer authentication (SCA) regulatory technical standards (RTS), delving into issues including mobile-initiated credit transfers and redirects.

April 20, 2022

EU Shifts to Humanitarian Aid in Ukraine Conflict

Although sanctions continue, priorities are gradually shifting from punishing Russia to helping those trapped in the crossfire.

April 20, 2022

News In Brief: April 19-April 22, 2022

FinCEN issues advice for U.S. banks to help identify kleptocracy and foreign public corruption.

April 20, 2022

Durbin Blasts Interchange Fee Hike

Senator Richard Durbin (D-IL) tells Visa and Mastercard to halt the planned increase of unregulated credit card fees as the change is set to take place.

April 20, 2022

SCA Implementation: What’s Expected from PSPs in the UK and EU?

Strong customer authentication (SCA) in the UK was expected to be implemented from March 14, 2022. This regulatory analysis focuses on the implementation and impact of SCA in the UK and the EU, as well as the UK Financial Conduct Authority’s (FCA) related expectations from payment service providers (PSPs).

April 20, 2022

Maine Grants Indian Tribes Exclusivity For Mobile Sports Betting

Maine’s four federally recognized Indian tribes will control mobile sports betting in the state under the terms of legislation backed by Governor Janet Mills and approved by both chambers of the legislature Tuesday night.

April 20, 2022

Wakayama’s IR Bid Near Collapse After Assembly ‘No’ Vote

The Wakayama Prefectural Assembly has voted down the city’s proposed integrated resort (IR) package, condemning the city’s bid to likely failure just eight days before Japan’s national application deadline.

April 20, 2022

Pennsylvania Grey-Market Games Debate Stalls, Lawsuit Claims Machines Illegally Targeted

In Pennsylvania, lawmakers remain far from reaching a consensus over how to handle thousands of “grey-market” machines, also known as skill-based games, which have appeared throughout the state and resemble slot machines but are unregulated.

April 20, 2022

Resilient Ukrainian Regulator Joins GREF

Ukraine’s gambling regulator is continuing to offer guidance and support to the industry despite the ongoing Russian invasion and has joined forces with its peers across the continent.

April 19, 2022

Cryptocurrency Markets Too ‘Illiquid’ To Support Mass Russian Sanctions Evasion, Says Study

A new report by Chainalysis, a crypto analytics firm, has cast doubt on the idea that Russian oligarchs could use cryptocurrency to evade sanctions and move wealth overseas en masse.

April 19, 2022

WhatsApp Pay To Double Indian User Base

India has granted WhatsApp Pay the permission to enrol 60m new users, a move that some believe has the potential to shake up the Indian payments landscape.

April 19, 2022

Are The UK’s Crypto Plans Really That Exciting?

Experts are divided on just how significant the UK’s new crypto plans are, after HM Treasury published its stablecoin consultation response earlier this month.

April 19, 2022

SCA Triggers £4.3m Daily Loss For UK Retailers

UK merchants have been hit by the new strong customer authentication (SCA) rules block on non-compliant online transactions.

April 19, 2022

U.S. Audience For Esports Not Minors, Executive Reminds Gaming Regulators

Nevada regulators are supportive of an effort by the gaming and video game industries to develop a viable esports wagering industry in the state, despite integrity risks to the sector, as interest in competitive video game competitions has increased over the last two years.