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Regulation

Govt Considers Tax Incentives for Cashless Payments

“Rwandan businesses that declare a significant portion of their revenue via cashless avenues could soon start receiving tax refunds. The Government, through the Ministry of Finance and Economic Planning, is currently conducting studies to determine the feasibility of the concept. Eric Rwigamba, the Director-General of the Financial Sector Development at the Ministry of Finance and […]
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Regulation

Federal Judge Rules Against OCC in Fintech Regulatory Lawsuit by NYS

“A U.S. District Court judge ruled that the Office of the Comptroller of the Currency lacks the authority to grant nationwide bank charters to fintechs, striking a major blow against the efforts to create a uniform regulatory framework to challenger banks here.  Regulators in New York, considered the nation’s leading state regulator of the banking […]
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Regulation

EU Antitrust Chief Examines Apple Pay

““We’ve been asking quite a number of questions because we get many, many concerns when it comes to Apple Pay for pure competition reasons,” the EU’s Commissioner for Competition Margrethe Vestager told reporters during a news briefing at the Web Summit conference in Lisbon last week, Reuters says.”
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Global

China Central Bank to Set Standards for 17 Fintech Categories, Including Blockchain – CoinDesk

“Speaking at a meeting of the National Technical Committee, PBoC vice president Yifei Fan said the bank aims to better regulate new technologies applied across the financial industry, according to a report from state media Xinhua News Agency. Fan said blockchain is among 17 categories of financial technologies, including cloud services and artificial intelligence, to […]
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Regulation

Kenya Is Stepping up Its Citizens’ Digital Security With a New EU-inspired Data Protection Law

“As the country looks to engender more safeguards in the collection, handling and sharing of data, Kenya’s president Uhuru Kenyatta has approved legislation which complies with the European Union’s General Data Protection Regulation. The new law outlines restrictions on data handling and sharing by government and corporations. Any infringements of the new law will be […]
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Regulation

Malaysia to Help SMEs Go Digital by 2022

“The country is actively taking on multiple initiatives to get businesses to leverage viable solutions that could help automate operational processes and achieve digital proficiency. In particular, the government has prioritized digitalization efforts among SMEs to maintain relevance, maximize business efficiency, and increase productivity. There is also a strong focus on digital payment capabilities as […]