On 12 November 2020, Ukrainian Parliament registered a draft payment services law (available here in Ukrainian). This milestone work was coordinated by the Ukrainian central bank (“NBU”) with the aim to fully replace the existing regulatory framework for the payments business in Ukraine.
The European Commission and the Council of the EU have set out the EU’s position on the use of global stablecoins. As expected, whilst they accept that financial innovations can benefit the financial sector, they consider that stablecoins pose many global risks, including, but not limited to, risks to consumers and cybersecurity.
The FCA has sent a Dear CEO letter to payment firms requiring them to review their safeguarding arrangements for customer funds and to attest to compliance.
Regulatory conditions are driving more fintech and BPO activities to Ukraine
Stakeholders can submit responses until 3 September 2018.
The European Commission at long last adopted the RTS on Strong Customer Authentication under PSD2.