Tag Archives: Regulation

The widespread online exchange of currency in Uzbekistan is expected to begin in April 2018. The process began with a decree from the Uzbek President in September 2017 to liberalize …

FinTech is becoming of crucial importance for financial institutions, influencing nearly every financial activity and transforming money management channels. The financial sector in Georgia is no different; here’s a quick …

In Kazakhstan, the rigid regulations of financial companies now also apply to online lending companies, leaving many to wonder if FinTech companies can thrive (or even survive) under such conditions. …

A new action plan from the European Commission (EC) is aiming to support the growth of technology-enabled financial services. The action plan, due to be launched in spring 2018, will …

The government of the United Kingdom (UK) has unveiled its first FinTech sector strategy. A cryptoassets task force (consisting of Her Majesty’s Treasury, the Bank of England (BoE) and the Financial …

The Bank of Russia presented a concept for a new financial ecosystem at the Finopolis forum in autumn 2017 and is ready to begin testing it in the second half …

The Board of the National Bank of Kyrgyzstan has adopted amendments to the resolution ‘On Electronic Money’ that prohibit the replenishment of electronic wallets (e-wallets), prepaid cards and/or virtual prepaid …

The National Bank of Kyrgyzstan has submitted a draft of amendments and additions for public discussion which would ban the replenishment of electronic wallets from mobile phone balances. The move …

The Central Bank of Uzbekistan (CBU) has released a special statement calling virtual money an instrument for financing terrorism. The special statement also declared that there was no plan for …

Maryam Tagiyeva, the chief system architect of the British Research Center for Citizenship, Enterprise and Governance (CCEG), believes that Azerbaijan is in a position to become the world leader in …

The Azerbaijan Banks Association (ABA), in partnership with the Center for Analysis of Economic Reforms and Communication, will hold the second ‘Adaptation of the Banking System to the New Development …

The National Bank of the Kyrgyz Republic (NBKR) is insisting that the laws and regulations of Kyrgyzstan prohibit mobile operators from allowing customers to use their mobile balances to pay …

In March 2017, the Russian Ministry of Communications  promoted a draft law to change the procedure for issuing reinforced qualified electronic signature (RQES) certificates. The proposed law would move the …

The Astana International Financial Center (AIFC) has announced the creation of a working group to develop an ecosystem to enable blockchain solutions in the Commonwealth of Independent States (CIS) region. …

Five months after the introduction of fairly strict government regulations, the volume of loans issued by some online lending companies has significantly decreased, along with the number of people they …

A Russian law on the mandatory transition to new cash register equipment has came into force on July, 2016, with the goal of optimizing state control and better tax regulation. …

The Central Bank of Russia has several initiatives to facilitate interactions between banks and their customers through modern technology; however, there are many strict responsibilities for customer verification that make …

In the near future, tens of microfinance institutions and online organizations might be closed due to the new regulation that limits their activities. The regulation aims at restricting online loan …

Economic adviser Maya Mikeladze announced that the recently approved bill, aimed at restricting online loan services, has been signed by the President. The bill was put forward as a way …

2017 will mark the beginning of a large-scale remodeling of the capital market needs in Georgia. Georgia’s National Bank, Central Depository and stock market will all be infused with new …