Insights Archive

November 29, 2021

UK Football Fans Unite Against Gambling Ads

A new coalition of nine UK football supporter groups is campaigning to ban all gambling advertising and sponsorships in the sport.

November 29, 2021

DraftKings, FanDuel Lobby California Tribes Over Mobile Sports-Betting Initiative

DraftKings and FanDuel are preparing to spend millions of dollars and confront strong tribal opposition in order to pass ballot measures to authorize online sports betting in both California and Florida next year.

November 28, 2021

Florida Judge Denies Seminole Stay, Tribe Files Appeal With Federal Court

The Seminole Tribe of Florida on Thursday filed an emergency motion with the federal court of appeals in Washington, D.C., seeking a stay of a ruling that online sports betting allowed under the tribe’s compact with the state violates federal law.

November 26, 2021

Bank Of Lithuania Revokes Licence Of Epayblock

Lithuania’s central bank has revoked the licence of epayblock, an e-money institution, due to anti-money laundering failures.

November 26, 2021

Week In Brief - November 26, 2021

A short roundup of some of the week's payments news you may have missed. This week we look at the CMA's lessons learned review in the UK following the recent open banking scandal, proposals in Japan for a bank deposit-backed digital currency, the strong demand for request to pay in Europe and news that NFT, or non-fungible token, has become word of the year.

November 26, 2021

BNPL: UK Government Consultation and International Overview

On October 21, 2021, the UK government launched a consultation on the potential scope of regulation and regulatory controls for buy now, pay later (BNPL) products, which are currently unregulated. This analysis focuses on the government’s views contained in the consultation, as well as their potential impact for the currently unregulated BNPL product providers. It also gives an overview of the initiatives, in relation to this kind of product, taken in other jurisdictions.

November 26, 2021

Access Key To Innovation, Square Tells Payments Canada

As Payments Canada gears up to launch its new real-time rail (RTR) infrastructure, payments company Square tells the trade association, in an interview on its website, that expanding access is critical to supporting innovation and competition in the market.

November 26, 2021

Should FCA Reconsider Its Approach To Whistleblowers?

Nobody doubts the usefulness of tipsters in the fight against financial crime, but the UK's Financial Conduct Authority (FCA) has long eschewed the idea of rewarding them for their information, no matter how crucial. In view of the success of the US' Dodd-Frank regime, it might profit by reviewing this long-established policy.

November 26, 2021

European Politicians Keep Gambling Ads In Crosshairs

Gambling advertising in Europe remains a hot political topic, even as a long-awaited UK fan-led review of football governance fails to flag the sport’s relationship with gambling as a major issue.

November 26, 2021

DraftKings Downplays Crypto Gift Card Worries

DraftKings has dismissed concerns that an outlet’s decision to sell DraftKings gift cards with Bitcoin or Ethereum could raise anti-money laundering or know your customer concerns, but has asked the supplier to withdraw the option.

November 26, 2021

News In Brief: November 22-November 26, 2021

Norway's gambling monopoly is touting the positive impact of its responsible gambling methods, one year on from drastically lowering loss limits.

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.