On 7 January 2021, HM Treasury (“HMT”) published a consultation and call for evidence on the UK’s regulatory approach to cryptoassets and stablecoins, which sets out HMT’s proposals for a new regulatory regime covering stablecoins and its approach to regulating cryptoassets more generally. The proposals follow HMT’s July 2020 consultation on bringing certain cryptoassets within the scope of the financial promotions regime (see our blog post here).
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in FinTech-related regulation which are expected for January 2021. Continue reading
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in FinTech-related regulation which are expected for December 2020. Continue reading
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in FinTech-related regulation which are expected for November 2020. Continue reading
In 2016, India launched an unprecedented demonetisation programme, which revolutionised its digital economy. Four years on, we look at the present state of the Fintech sector in India – and at its enormous potential for further growth.
For most people, life and work have changed fundamentally since the Covid-19 crisis began – and there are concerns that the crisis could still worsen again . Most areas of the world’s economy have been profoundly affected too, and the Fintech sector is no exception. Fintech has been both an epicentre of the crisis – and has also been central to recovery efforts, as payments have moved online and governments have sought to disburse financial support efficiently. Continue reading
Fintech is a rapidly developing area where developments in the regulatory regime are ongoing. We have created a timeline of key UK and European regulatory milestones to watch out for over the coming months and years.
HM Treasury has announced two consultations on possible changes to the UK financial promotions regime:
- a consultation on limiting the scope of firms that can approve financial promotions of unauthorised persons; and
- a consultation on extending the financial promotions regime to include unregulated cryptoassets.
The deadline for responses to both consultations is 25 October 2020.
These consultations reflect the continued focus by the Financial Conduct Authority (FCA) on marketing and the related risks to consumers, particularly following the mini-bond scandal, as well as the continued focus on the regulation of fintechs and cryptoasset technologies. Continue reading
Earlier this week, HM Treasury announced the relaunch of its independent Fintech Strategic Review (the Review). The Review, originally announced in March (but delayed due to Covid-19), will aim to identify key priority areas for focus by the industry, policymakers and regulators in order to support the continued growth and mainstream adoption of Fintech solutions in the UK. The Review will be led by Ron Kalifa OBE (the former CEO of Worldpay).