Tag Archives: Regulation

Amendments and additions to Uzbekistan’s criminal code and administrative responsibility code governing the use of personal data have been signed into law. The updated legislation outlines a schedule of fines …

The government of Kazakhstan is planning to create the Personal Data Agency under the Security Committee of the Ministry of Digital Development. This new agency will be responsible for coordinating …

Amendments to Russia’s Law on Information, Information Technologies and Information Protection are currently being discussed and could have major implications for how Big Data is used in the country. The …

Russia’s Central Bank has published its Main Directions for the Development of Information Security in the Credit and Financial Sphere for 2019–2021. The document outlines a plan to combat cyber …

Data is quickly becoming a point of contention between companies working to collect, process and secure it and governments seeking to force companies to provide them the data they possess. …

Participants in Russia’s emerging Big Data market, including the Internet Development Institute (IRI) and the Big Data Association (ABD) (which includes Yandex, the Mail.ru Group, Sberbank, Gazprombank, MegaFon and Rostelecom), …

The European Commission has launched an antitrust investigation against Amazon that could result in USD 23 billion in fines. The investigation stems from the fact that Amazon is itself a …

According to economist Kubat Rakhimov, Kyrgyzstan has work to do if it is to ensure that laborers working abroad will make investments into the Kyrgyz economy. Specifically, he notes that …

Russia’s National Financial Association, a self-regulatory organization, has issued its first official accreditation to VTB Capital Investment under a program to provide individual investment recommendations to users via roboadvisors. Roboadvisors …

BigTechs have been rapidly moving to offer a wide range of financial services. But the role of BigTechs in the financial sector raises numerous issues as BigTechs are not regulated …

Facebook has announced a plan to launch its own cryptocurrency (Libra) next year. In fact, what they may be doing in launching Libra is actually creating a new financial system …

At a meeting of the financial heads of G20 countries in Southwestern Japan, a discussion was held on developing a new tax system for large internet companies such as Google …

On the surface it may seem the China’s WeChat is a social network like Facebook or WhatsApp. But with more than a billion users and a plethora of functions, it …

So far this year, Hong Kong’s Monetary Authority (HKMA) has issued virtual banking licenses 8 different groups, including BigTechs, as part of an initiative to promote financial innovation, enhance consumer …

According to Christine Lagarde, head of the International Monetary Fund (IMF), the entrance of BigTechs into the financial market could adversely affect overall financial stability. Ms. Lagarde specially mentioned concerns …

Competition in the Asia-Pacific region is intensifying between established financial institutions and the technology and e-commerce disruptors that threaten to carve up the payment solutions market. According to a report …

Kazakhstan’s Ministry of Economy has announced the launch of an anti-monopoly investigation into Google. The announcement follows a number of complaints received after the internet giant began to block the …

BIS economic adviser and head of research Hyun Song Shin discusses the entry of bigtech companies into the financial services industry and the new challenges this poses for financial regulators, …

Representatives from Business Insider, Dankse Bank, Erste Group Bank AG, Paypal, Frontier Economics and UniCredit Group discuss how bigtech companies’ roles in finance is likely to evolve in the coming …

Amazon, Apple, Facebook, Google and Microsoft are five of the most valuable companies in the world, earning the monikers “The Big Five” and “The Frightful Five”. Take a quick look …