Insights Archive

November 25, 2021

On To Next Step! EU Leaders Reach MiCA And DORA Agreement

The Council of the European Union, consisting of the EU’s 27 heads of state, has adopted a position on the Markets in Crypto Assets (MiCA) regulation and the Digital Operational Resilience Act (DORA) in preparation for negotiations with the European Commission and Parliament.

November 25, 2021

FCA Looking For Crypto Experts To Combat Crime

The UK's Financial Conduct Authority (FCA) is looking for a third-party provider that can help the regulator with the analysis of crypto-asset blockchain data and effective supervision.

November 25, 2021

U.S. Banks Can Engage In Cryptocurrency Activities, With One Caveat - Federal Regulator Says

National banks can engage in certain cryptocurrency, distributed ledger, and stablecoin activities, but only after they have received a non-objection from their supervisory office.

November 25, 2021

BNPL Could Become ’True Villain’ Of Christmas, Warns UK Parliamentarian

A senior member of the UK’s parliament has underlined the risks that buy now, pay later (BNPL) products pose for consumers as the country prepares for its first post-lockdown Christmas holidays.

November 25, 2021

UK Lawmakers Target PM Ahead Of Landmark Industry Update

UK Prime Minister Boris Johnson has received a list of regulatory changes a group of lawmakers want to be addressed in the government’s white paper on the ongoing Gambling Act review.

November 25, 2021

Evolution Denies Breaching US Sanctions List

Gaming software and streaming giant Evolution has hit back at claims in a secret report that it was enabling “a myriad of illegal activities, as well as regulatory and contractual violations”, including allowing gaming in sanction-listed countries such as Syria and Iran.

November 24, 2021

Polish Bank Fined For Failing To Notify Data Breach

The Polish Personal Data Protection Office has imposed a €80,000 fine on Bank Millennium, after finding that the bank did not report an incident to the authority.

November 24, 2021

’Red Alert’ For Crypto Ads, Says UK Regulator

The UK’s Advertising Standards Authority has said that tackling the rise in crypto ads throughout advertising media is a priority.

November 24, 2021

UK Finance Outlines Open Banking Vision

Governance and voluntary industry initiatives have taken centre stage in a new report on the future of open banking payments, which has been compiled by financial services industry association UK Finance.

November 24, 2021

News In Brief - November 24, 2021

After making Bitcoin legal tender, El Salvador is now planning to build the first-ever Bitcoin City, powered by a volcano.

November 24, 2021

Seminole Tribe Appealing Court Order Blocking Florida Compact

Reactions trickled in throughout Tuesday to the major federal court ruling quashing the gaming compact between the Seminole Tribe and the state of Florida, with the tribe already taking the first steps towards launching an appeal.

November 24, 2021

No More Football Indexes, Says UK Commission Consultation

The latest Gambling Commission consultation would safeguard the regulator against future Football Index style embarrassments, but also seeks to codify the new normal, legal experts have said.

November 24, 2021

Malta Websites Linked To Latest Italian Mafia Bust

Twelve people were arrested last week in Italy by anti-mafia police for running illegal betting operations through websites registered to companies in Malta.

November 24, 2021

Top Court Rules Wynn Macau Liable For Junket Misconduct

Macau’s highest court has declared casino operator Wynn Macau is culpable for player losses resulting from a heist at the now-defunct Dore junket, delivering a new body blow to the flailing VIP segment.

November 23, 2021

European Central Bank Unveils New Electronic Payments Framework

The European Central Bank’s governing council has approved a new rulebook for electronic payments, including stablecoins and crypto-assets.

November 23, 2021

Four Banks Struck With Hefty Fines From Hong Kong Regulator

Financial institutions operating on the island have been fined for failing to comply with anti-money laundering regulations, the Hong Kong Monetary Authority has announced.

November 23, 2021

BNPL Costs May Outweigh Value, Kansas Fed Warns

If buy now, pay later (BNPL) becomes a preferred payment method, the service may cost more for merchants than what it brings in, the Federal Reserve Bank of Kansas has warned, adding that it is unlikely for U.S. regulators to step in to mitigate merchant costs.

November 23, 2021

Georgia's Prime Minister Weighing Online Casino Ban

During a government meeting on Monday, the Georgian Prime Minister announced plans to raise taxes for online casinos, ban gambling ads and raise the legal age for gambling to 25, but warned he is also considering a total ban on online casinos.

November 23, 2021

Tanzania Advertising Code Includes TV, Radio 'Blackout'

The Gaming Board of Tanzania has proposed a new code of practice for gambling adverts which would see a TV and radio “blackout” from Monday to Friday between 6am and 9am.

November 23, 2021

Federal Judge Throws Out Florida-Seminole Compact, Halts Sports Betting

A U.S. District Court judge late Monday night invalidated the Seminole Tribe’s landmark new gaming compact with the state of Florida, bringing an abrupt end to the state’s mobile sports betting offering.

November 22, 2021

FinCEN Says Payments Processors Must Report Suspected Environmental Crime

The U.S. Financial Crimes Enforcement Network (FinCEN) has released an advisory document, guiding financial institutions on how to file suspicious activity reports related to environmental crime, after finding an upward trend in this type of crime.