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Navigating legal uncertainty: How the Digital Assets Bill could impact PSPs

The Payments Association

Under the Bill, PSPs will be required to review their obligations under this evolving legal framework to confirm their ability to deliver on redemption guarantees. This could lead to disputes over ownership, custody, and liability in cases where the legal framework is yet to be fully tested.

Legal 88
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Market First, Regulation Later? The American Open Banking Journey

Open Banking Excellence

State regulators often have different priorities and legal frameworks, which can create inconsistencies and hurdles for companies attempting to offer open banking services across the entire country. Financial regulations in the U.S. This fragmented regulatory landscape complicates efforts to implement nationwide open banking standards.

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Trade Finance Poised for Digital Revolution Though Obstacles Remain

Fintech News

The guide provides a practical toolkit for the industry, leveraging expert opinions from various stakeholders to explore the role of banks in digitalization initiatives, legal frameworks, international standards and innovative technologies.

Finance 126
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Very important feedback to the EU-commission from Findynet

Finextra

Ensuring public sector participation will accelerate adoption and interoperability across industries. Enable Accountable Authorities To ensure the reliability of digital credentials in business contexts, a robust trust framework is essential. This framework underpins real, verifiable trust. Interoperability is crucial.

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What is Stopping Blockchain From Seeing the Same Success as AI?

The Fintech Times

A lack of interoperability leads to a fragmented user experience, and if rushed to market, an increased risk of bugs and vulnerabilities. Financial institutions hesitate to adopt blockchain without clear, consistent regulatory frameworks, especially when operating across multiple jurisdictions.

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Understanding Crypto Money Laundering, and How to Get a Handle on It

Fintech News

This trend highlights how criminals are exploiting the interoperability of different blockchain networks to further obscure the trail of illicit funds. In January 2024, nearly US$234 million in illicit inflows were recorded moving through bridges – the highest value to date. The United Arab Emirates has amended Federal Decree-Law No. (20)

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Project mBridge Reaches MVP Stage, Expands International Participation

The Fintech Times

The platform now includes a governance and legal framework, tailored to its decentralised nature, enabling real-value transactions and compatibility with the Ethereum Virtual Machine. This allows it to serve as a testbed for additional technology solutions and interoperability with other platforms.