| Mobile Web

Search results for Financial Authorities

Crypto

BitPay secures Dutch approval, seeks to expand stablecoin payments

BitPay has obtained approval from the Netherlands Authority for the Financial Markets, allowing it to operate in EU member states under the MiCA framework. Cointelegraph reported on July 16 that BitPay secured a Crypto Asset Service Provider (CASP) licence under MiCA requirements. The approval enables BitPay to expand cryptocurrency and stablecoin payment services in Europe. BitPay’s head of Europe Jonathan Raller called Europe a key region for the future of payments. Ripple said last week it obtained a CASP licence in Luxembourg.

Finance

South Korea curbs P2P stock loans, caps new issuance at 30 percent

South Korea\'s financial authorities will limit the size of new stock-loan issuance and set borrower-by-borrower loan caps for the online investment-linked finance sector, after stock loans expanded rapidly amid a recent stock market rally. The Financial Services Commission and the Financial Supervisory Service said the measures take effect from July 16. Monthly new stock-loan issuance will be capped at 30 percent of the prior month’s new linked loans excluding stock loans, with an exception tied to keeping balances below end-June levels.

Crypto

U.S., UK align regulation on stablecoins and tokenisation, issue joint recommendations

U.S. and British finance authorities moved to align regulation on tokenised assets and stablecoins, issuing four digital-asset recommendations as part of a Transatlantic Taskforce for the Future of Markets. The proposals call for a cooperative framework to test cross-border uses of tokenised assets and for shared regulatory principles for stablecoins. They also set a 1:1 reserve requirement backed by high-quality liquid assets and point to building a cross-border stablecoin market.