On 3 September 2020, Andrew Bailey, the Governor of the Bank of England, delivered a speech to the Brookings Institution regarding innovation in payments, setting out his view that innovations need to be underpinned by an appropriate regulatory framework to be suitable for use on a wider scale. In his view, stablecoins have the potential to be suitable for widespread use, but must meet the standards of other regulated payments to maintain consumer protection and promote consumer confidence.
Each market is dealing with COVID-19 cautiously, and the guidelines issued by different agencies follow a general theme around awareness, caution, and transparency.
2019 will see the defragmentation of the country’s banking laws.
Weighing an uncertain outcome, Luxembourg adopts two bills ensuring the financial stability of the financial sector.
Read about South Africa’s implementation of the Twin Peaks approach, its implications, benefits, and the latest amendments.
Learn more about the developments and enforcement trends in the UAE that will lead businesses to face greater regulatory scrutiny.