PYMNTS

NOVEMBER 4, 2019

The International Organization of Securities Commissions (IOSCO) said existing securities rules could be applied to Libra, Facebook’s proposed cryptocurrency, according to a report by Reuters. That would mean that regulation already in place for securities, like reporting, disclosures and registration, could be applied to Libra. .

Securities 40

Securities Construction Financial Systems Currencies 40

PYMNTS

NOVEMBER 4, 2019

The International Organization of Securities Commissions (IOSCO) said existing securities rules could be applied to Libra, Facebook’s proposed cryptocurrency, according to a report by Reuters. That would mean that regulation already in place for securities, like reporting, disclosures and registration, could be applied to Libra. .

Securities 40

Securities Construction Financial Systems Currencies 40

PYMNTS

MARCH 3, 2020

The hacking of virtual currency exchanges and related money laundering for the benefit of North Korean actors poses a grave threat to the security and integrity of the global financial system,” said U.S. but did not register with the Financial Crimes Enforcement Network (FinCEN). Attorney Timothy J.

Currencies 56

Currencies Financial Systems Securities Economics 56

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). A lack of safety and soundness rules will expose the financial system to significant vulnerabilities.”.

Banking 139

Banking Financial Systems Concentration Currencies 139

Future CFO

SEPTEMBER 2, 2024

AI-powered ERP systems can help address regional challenges such as complex regulatory environments, diverse currencies, and rapidly changing market conditions by providing more agile and responsive financial tools. Through AI-driven planning, we have transformed our business stance against disruptions to be more proactive.

Compliance 116

Compliance Leverage Forecasting Risk Management 116

PYMNTS

DECEMBER 29, 2020

Securities and Exchange Commission ( SEC ) has prompted Coinbase to suspend all XRP trading. Factors like security and compliance are considered as well as the platform’s goal of developing an “open financial system for the world. billion “through an unregistered, ongoing digital asset securities offering.”.

Compliance 67

Compliance Currencies Financial Systems Securities 67

PYMNTS

NOVEMBER 16, 2020

In other news, the Securities and Exchange Commission of Pakistan (SECP) is researching the potential for innovation, as well as the inherent risks, in virtual assets, the SECP said in a paper published on Nov. The SECP also examined various regulatory measures in the paper. Meanwhile, Binance on Monday (Nov.

Currencies 118

Currencies Financial Systems Securities Investments 118

Global Finance

OCTOBER 11, 2024

trillion in extended credit and new capital for its consumer and institutional clients while moving $10 trillion in over 120 currencies daily. The transaction netted JPMorgan approximately $173 billion in loans, $92 billion in deposits, and $30 billion in securities. Throughout 2023, JPMorgan Chase raised $2.3

Banking 107

Banking Foreign Exchange Profit and Loss Finance 107

PYMNTS

JULY 5, 2019

The bank is worried that the currency will be difficult to regulate and that it could potentially harm the existing financial system. “It Some are worried that the fact that Libra could be tied to several national currencies means that Facebook is trying to avoid being under control from any particular country. .

Financial Systems 40

Financial Systems Currencies Compliance Banking 40

PYMNTS

JUNE 20, 2019

government will respond to the introduction of new digital currencies. On Wednesday (June 20), Fed chairman Jerome Powell said that the country’s central bank has “significant input into the payments system,” which is the eCommerce system that Libra will affect. “We The Securities and Exchange Commission in the U.S.

Currencies 67

Currencies Financial Systems Banking eCommerce 67

Global Finance

SEPTEMBER 4, 2024

He also provides an update on Brazil’s innovative financial initiatives, including the development of DREX, the country’s digital currency. However, doing innovation sometimes means competing with the financial sector for people. This touches both the administrative and financial autonomy that we seek.

Banking 105

Banking Economics Currencies Finance 105

PYMNTS

JUNE 30, 2020

BIS General Manager Agustín Carstens called the move “an investment in the future of central banking and the financial system.”. BIS, in surveying 66 of the world’s banks, has also seen a shift toward creating central bank digital currencies (CBDC).

Currencies 59

Currencies Communication Financial Systems Banking 59

PYMNTS

OCTOBER 23, 2018

The SBI Group plans to license Sepior ApS ’ wallet technology to use in its own wallet, which will become a part of its digital currency exchange platform, the company said in an announcement. Work remains to be done to determine how it can be set up to maximize the benefits for the whole financial system.”.

Startups 76

Startups Banking Currencies Financial Systems 76

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Additional steps may be necessary to properly segment and secure bank networks if employees use personal devices to connect to bank systems,” the OCC wrote.

Compliance 66

Compliance Banking Currencies Financial Systems 66

PYMNTS

SEPTEMBER 14, 2016

government seems to be accepting the positive impact that digital currencies and blockchain could have on legacy financial systems, according to Business Insider. According to the resolution, digital currencies increase transparency and provide more secure payment authentication. 12) by the U.S.

Currencies 78

Currencies Financial Systems Securities Technology 78

Global Finance

OCTOBER 10, 2024

Azerbaijan Taleh Kazimov: B+ Central bank Governor Taleh Kazimov, in office since 2022, had a boost in July when Fitch Ratings upgraded Azerbaijan’s long-term foreign currency issuer default rating to BBB- from BB+ with a stable outlook. Bangladesh has suffered years of financial system dysfunctionality.

Benchmarking 52

Benchmarking Foreign Exchange Forecasting Economics 52

PYMNTS

AUGUST 14, 2019

The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). Mobile Gaming And Digital Currency . The first is the rise of mobile gaming and gambling. kilograms of methamphetamines and more than $5.5 million.

Compliance 65

Compliance Currencies Financial Systems Securities 65

PYMNTS

AUGUST 18, 2019

Waters has been a vocal critic of the social media giant’s plans for its own digital currency. Carolyn Maloney, Lacy Clay, Al Green and Stephen Lynch — who wrote a letter calling for Facebook to stop its plans, citing risks to security, financial stability and the control the U.S. Last month she — along with Reps.

Currencies 69

Currencies Financial Systems Securities Planning 69

PYMNTS

JULY 12, 2019

billion yen ($32 million) of digital currency, according to reports. The complete picture of the hack and theft is under investigation, and the theft included Bitcoin, Ethereum, Ripple and other well known digital currencies. . The traditional banking system in the country has been more skeptical, however. .

Currencies 41

Currencies Financial Systems Securities Banking 41

PYMNTS

JULY 3, 2019

The co-creator of Facebook’s recently announced cryptocurrency, Libra , said the currency was created to help the unbanked population easily access the financial system, according to a Facebook post he wrote on Wednesday (July 3). owns and controls Calibra, it won’t see financial data from Calibra,” he wrote.

Financial Systems 43

Financial Systems Currencies Banking Financial Data 43

PYMNTS

JANUARY 15, 2021

It also said the bank’s Check Cashing Group admitted that it failed to file thousands of suspicious activity reports (SARs) as well as thousands of Currency Transaction Reports (CTRs) from 2008 to 2014. financial system.”.

Banking 107

Banking Compliance Currencies Financial Systems 107

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. These risks are not unique to money services businesses or virtual currency exchangers; banks must be thinking about their crypto exposure as well," he said.

Compliance 82

Compliance Currencies Financial Systems Leverage 82

PYMNTS

SEPTEMBER 20, 2019

Libra will be a stablecoin, meaning it will be backed by real-world currency like bank deposits and short-term securities. It will also have a 28-member organization made up of financial entities from across the globe. “Until then, we’ll need to address all questions adequately, create a suitable regulatory environment.”.

Currencies 43

Currencies Financial Systems Securities Planning 43

PYMNTS

SEPTEMBER 16, 2016

Smith went on in his speech to say that the lessons learned from the Bitfinex hack have improved the digital currency environment. Perhaps, with a few more $60 million learning opportunities, bitcoin should be well on its way to an established, viable currency. Secure, scalabale integration … that old thing. Cabs With Crypto.

Currencies 77

Currencies Concentration Securities Banking 77

PYMNTS

OCTOBER 18, 2019

The Financial Action Task Force (FATF) said it is worried about “ stablecoins ,” like Facebook’s Libra , and how they could be used for illicit purposes. Facebook said Libra could help financial systems in developing countries, and give access to the unbanked population in those countries. Libra is planned for a 2020 release.

Currencies 40

Currencies Financial Systems Finance Planning 40

PYMNTS

FEBRUARY 22, 2018

In a move to strengthen its digital money platform with secure payment applications, Uphold has acquired Cortex MCP. Cortex’s mobile-centric, closed-loop payment and secure tokenization solutions provide industry-leading technologies and security to our platform,” Uphold COO William Dennings said in the announcement.

Currencies 43

Currencies Financial Systems Leverage Securities 43

PYMNTS

JUNE 1, 2018

We’re not building a new currency,” the official told Bloomberg. Estonia , which is among the most tech-friendly countries in eastern Europe, had been a leader in potentially issuing a national cryptocurrency, but the plan was criticized by Draghi earlier in the year when he said the euro can be the only currency in the country. “No

Planning 49

Planning Currencies Financial Systems Banking 49

PYMNTS

APRIL 9, 2020

While the company’s API allows for white-label ACH processing, Sila has the payment rail in its crosshairs, with Sila CEO and Co-Founder Shamir Karkal describing ACH one of several “outdated payment systems” upon which the global financial system operates. Billhop Eases B2B Card Acceptance.

B2B 83

B2B Invoicing Banking Currencies 83

CFO Thought Leader

OCTOBER 6, 2024

But, recently, we have found that the CFO and the CIO now recognize that they need to work more closely together to drive greater investment in the modernization of financial systems. It’s more about data, and because it’s more about data, there’s more security risk everywhere. Things have changed.

CFO 52

CFO Leadership Tax Planning Problem Solving 52

PYMNTS

NOVEMBER 27, 2018

He pleaded to one count of money laundering, and he was accused of accepting more than $1 billion in bribes to participate in an illegal foreign currency scheme. financial system by Venezuela. The country has rampant hyperinflation on its own currency. His case is part of a broader effort by the U.S.

Currencies 43

Currencies Treasury Financial Systems Marketing 43

PYMNTS

JUNE 25, 2019

financial system. The Senate Banking Committee will hold its own hearing on the social media giant’s digital currency, called Libra, the day before. According to American Banker , the committee will meet July 17 to examine Facebook’s proposed cryptocurrency and its impact on consumers, investors, and the U.S.

Currencies 66

Currencies Financial Systems Banking Planning 66

PYMNTS

SEPTEMBER 30, 2019

Beyond the lures of money, there are other nation-states that may want access to a financial system, but for different reasons. wields a great deal of influence, especially in the international monetary system. Our currency is the world’s reserve currency,” said Visner, “and the U.S. The Corrosion Of Power.

Nonprofit 65

Nonprofit Currencies Financial Systems Securities 65

PYMNTS

OCTOBER 30, 2017

Earlier in October, state-backed media entity Securities Times reported that new rules would take effect in the next six months to control the activities of more online microcredit companies, noted Reuters. Microcredit firms in China have faced allegations that they have taken advantage of borrowers by imposing high interest rates on loans.

Finance 40

Finance Currencies Financial Systems Banking 40

PYMNTS

JANUARY 22, 2020

Sabre Vice President of Product Management Becky French discussed this strategy with PYMNTS in a recent Masterclass video , noting that this collaboration has already yielded stronger cash flow and financial management practices for joint clients. NY Labor Department Secures Payroll Card Win. SmartEquip Adds Commercial Card Support.

B2B 52

B2B Currencies Securities Invoicing 52

PYMNTS

JANUARY 5, 2020

Meenavalli , CEO of the cryptocurrency firm Longfin, has agreed to settle with the Securities and Exchange Commission (SEC) and pay $400,000 in disgorgement and penalties, the SEC announced on Friday (Jan. 2) to force the encrypted instant messaging app Telegram to turn over financials and explain how it spent $1.7

Startups 52

Startups Currencies Financial Systems Securities 52

VCFO

AUGUST 16, 2023

Money Laundering Prevalence and Practices When bad actors possess large sums of cash that they want to place into the financial system without raising flags, money laundering techniques such as “structuring” are used. As a result, they’re also more susceptible to impacts like those described above.

Compliance 84

Compliance Banking Risk Management Currencies 84

PYMNTS

OCTOBER 2, 2019

As has been reported , Mark Branson, CEO of Swiss financial supervisor FINMA said that Libra poses fewer concerns than do cryptocurrencies that trade and crypto firms that operate with no supervision. “I Since the June announcement of the crypto, the efforts have been designed to be backed one-to-one by a basket of currencies.

Currencies 49

Currencies Education Financial Systems Securities 49