KuCoin EU Applies for MiCAR in Austria for EEA Compliance
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?? NEWS HIGHLIGHT
Poland based Retail FX and CFDs broker XTB has announced that the company has received a securities agent license in Chile. XTB said that this is a significant milestone for the company as it expands its presence in Latin America.
The license awarded by the Chilean Commission for the Financial Market (CMF) strengthens XTB’s presence in a dynamic region that offers multiple market opportunities for brokerage firms. Thanks to the new license, XTB will now be able to offer investments in international stocks, ETFs, and derivatives.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
?? REGTECH HIGHLIGHTS
?? Nigeria suing Binance for $81.5 billion in economic losses and back tax.
?? Collaboration empowers financial institutions globally to tackle next-generation scams driven by AI.
?? REGIONAL HIGHLIGHTS
UK ????
FCA and PSR report on digital wallets. Given the growth, the FCA and PSR engaged extensively with businesses and representative groups to assess the impact of digital wallets, finding significant benefits to consumers through greater convenience, enhanced security measures, and more.
EUROPE ????
Paynet partners with Salt Edge to meet Moldova’s PSD2 requirements. This allows Paynet to align with Moldova’s regulatory framework while automating several key processes, including customer consent management, report generation, and fully managed support for Third Party Providers (TPPs).
eToro secures MiCA license for crypto offerings in Europe. The company stated that this authorization allows it to operate within Europe’s unified crypto regulatory environment, subject to submitting the relevant notification to each member state. Continue reading
USA ????
JPMorgan set to relive ‘huge mistake’ at Javice fraud trial. JPMorgan executives are expected to take the stand in coming days to testify about how the lender was allegedly defrauded out of $175 million by a 29-year-old entrepreneur, drawing fresh attention to how the biggest US bank vets its acquisitions.
LexisNexis Risk Solutions completes IDVerse acquisition. This acquisition expands LexisNexis’ capabilities in risk and fraud solutions and enhances digital identity onboarding and identity verification through AI-powered technology. Continue reading
ASIA
PhotonPay enhances global payment solutions with robust compliance and risk solutions. The company integrates AI-powered AML and Risk engine that enhances the speed and efficiency of its "Know your Customer" (KYC) and onboarding processes. The new tool reduces 'false positives' by an average of 50%.
Hong Kong expands virtual asset push with new licensing and trading options. The Securities and Futures Commission will establish new licensing regimes for over-the-counter trading in virtual assets and for custody services, aiming to boost market efficiency and investor protections.