Search results for Bank Act
Finance
Financial regulatory sandbox to be overhauled for fintech
South Korea\'s financial authorities will overhaul the financial regulatory sandbox to make it more fintech-friendly, focusing on lowering entry barriers for startups and strengthening exit strategies into regulated finance after the sandbox ends. The Financial Services Commission said it will revamp the innovative financial services framework across its full cycle. Measures include expanding exclusive operating rights, increasing cost and insurance support for smaller firms, adjusting screening standards for fintech and accelerating regulatory review for successful services.
Crypto
Warren questions legality of OCC crypto charters including Coinbase and Ripple
U.S. Democratic Senator Elizabeth Warren, a leading advocate of stricter crypto regulation, challenged the Office of the Comptroller of the Currency\'s chartering process for crypto firms. She asked OCC head Jonathan Gould to justify the legality of nine national trust charters granted since December 2025, including entities linked to Coinbase and Ripple. Warren said the firms had not shown custody as their core business and warned the structure could enable regulatory arbitrage. She demanded related applications and internal communications by June 1.
Finance
South Korea FSC unveils savings bank development plan, allows mid-sized firm loans
South Korea\'s Financial Services Commission on Feb. 23 announced a plan aimed at the sound development of savings banks, allowing them to extend corporate lending beyond small and medium-sized companies to include mid-sized firms with assets of 500 billion won or more. The measures also include changes to loan-to-deposit ratio weights to favor lending outside the capital region, permitting certain large savings banks to handle debit cards and prepaid mobile coupons, and revising prudential and governance rules.
