The Law of Ukraine “On Payment Services” has been adopted, but will come into force from August 1, 2022. The section regarding open banking will come into force from August 1, 2025. Below we analyse what opportunities this Law opens up for the development of financial technology activities in Ukraine. The Law establishes the framework…
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Canada is an ideal destination for business owners and investors who want to expand into a foreign market. Canada has a stable economy, which will prevent you from the risks of business shutdown. Some of the reasons for this economic stability are low tax rates, freedom to do trade and the well-managed bureaucracy. Money Service…
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The cryptocurrency market is developing rapidly, so the governments of many countries have decided to legally regulate the field of cryptocurrencies. It is important to note that the legalization of cryptocurrencies is important, both for the state and for users. Therefore, in order to legally conduct cryptocurrency exchange activities in a particular country, it is…
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The Anti-Money Laundering Authority (AMLA) is a new body for combating money laundering in European Union which will coordinate the national efforts of the EU countries in this area and take over the support of risky international financial transactions. The AMLA will focus on addressing current shortcomings in AML/CFT supervision within the EU. It will…
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Singapore has favorable conditions for launching new projects and innovative solutions in modern technologies sphere. The regulatory framework for financial institutions stimulates development of innovative products. Therefore, the number of registered fintech companies in the country is rapidly increasing. Recently the Monetary Authority of Singapore (MAS) has approved first digital banking licenses. The digital banking…
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If you are tired of imperfect services of banks and payment systems and you know how to provide them better, it is time to make your own payment system. If don’t know how and where to start your payment business, we will help you. Hong Kong offers opportunities for those who would like to provide…
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After several attempts, the Estonian Parliament has adopted and the President has signed amendments to the Money Laundering and Terrorist Financing Prevention Act and the State Fees Act. What do the adopted amendments mean for cryptocurrency activities regulation in Estonia? Significant changes relate to the conversion of two crypto licenses into one, the mandatory existence…
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The transitional period allotted to the EU Member States according to the Fifth Directive of the European Parliament and the Council on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing (hereinafter – the 5th AML Directive) is coming to an end. The deadline for the…
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Following Facebook, which has recently announced the launch of Facebook Pay, a unified online payment system for Facebook, Instagram, Messenger and WhatsApp, which will be available so far only in the United States, the digital giant Google announced a new project. The essence of the new Google project The new brainchild of Google is called…
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