Tag "regulation"

Silent Eight Uses AI to Fight Financial Crime

COVID-19 continues to spread in Singapore with now more than 30,400 confirmed cases and over 20 deaths, according to the latest data from the John Hopkins University. Though the numbers continue to rise, with 614 new cases of COVID-19 infection

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A Look at Singapore’s Updated Income Tax Guide for Digital Tokens

The Inland Revenue Authority of Singapore (IRAS) released on April 17 an e-Tax Guide on the income tax treatment of transactions involving digital tokens, as well as initial coin offerings (ICOs). The guide focuses on three types of digital tokens,

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Vietnam Central Bank Drops Plan to Cap Foreign Ownership in E-Payment Companies

The State Bank of Vietnam (SBV) has scrapped its initial plan to limit foreign ownership of locally registered e-payment companies to 49% after consulting with experts and industry participants, according to a VN Express report. In a note released earlier

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32 Non-Bank Organizations Licensed Providing Payment Services In Vietnam: The Complete Updated List

In December 2014, the State Bank of Vietnam (SBV) issued the Circular No. 39/2014/TT-NHNN which sets a series of rules banks and non-bank organizations in Vietnam must follow in order to be permitted to offer intermediary payment services such as

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Indonesia’s P2P Lending Sector Sees 642% Growth in Disbursements

Peer-to-peer (P2P) lending is a booming sector in Indonesia’s rapidly growing fintech industry, representing 43% of the country’s fintech companies, according to a paper by the Asian Development Bank Institute released earlier this month. In December 2018, disbursement of credit

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MAS’ Chief Fintech Officer on Making Singapore a World Leader in Digital Banking

Over the past couple of years, Singapore has emerged as one of the fintech’s top hotspots in the world. Today, the city state is home to 43% of all fintech companies in Southeast Asia: that’s about 750+ organizations. Since being

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Philippines Introduces New Laws, Initiatives To Boost Innovation And Entrepreneurship

The Philippines government is pushing for innovation and entrepreneurship, introducing new regulations and programs to support young companies, and leading numerous projects to bring convenient e-government public services to the masses. The Philippines Innovation Act The Philippines’ president, Rodrigo Duterte,

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Vietnam Central Bank Has Only Granted 4 Payment Licenses Over the Past 16 Months

The State Bank of Vietnam (SBV), the country’s central bank and main financial regulatory agency, has only granted payment licenses to four companies since April 2018. According to SBV’s website, Smart Net, Endenred, Paytech and EPay are the latest four

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Smaller Banks in Singapore Are at Risk As Fintechs Eye Digital Banking License

Competition is heating up in Singapore’s digital banking landscape as an increasing number of fintechs including e-wallet operators and payment services providers are looking to apply for when applications open in August. Liquid Group, Xfers, MatchMove Pay and FOMO Pay are

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Singapore’s New GST Proposal for Crypto “One of the Friendliest Tax Regulations in the World”

The proposal of the Singapore government’s taxation agency to remove goods and services tax (GST) from cryptocurrency transactions could give a boost to the burgeoning sector, experts and industry participants claim. Earlier this month, the Inland Revenue Authority of Singapore

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