article thumbnail

Decoding the FCA’s Safeguarding reforms: Practical steps for payments and E-money firms

The Payments Association

Smaller firms, for example, are likely to bear the brunt of financial pressures introduced by the reforms with hiked compliance costs that come with implementation of new safeguarding workflows, engaging with auditors and fulfilling enhanced reporting requirements.

article thumbnail

When do crypto firms need additional EU licences for stablecoin transfers? EBA issues guidance on the interplay between PSD2 and MiCA

The Payments Association

MiCA defines an EMT as “a type of crypto-asset that purports to maintain a stable value by referencing the value of one official currency” PSD3 will need to be transposed in the national laws of EU member states by that date, and the PSR will apply directly in all EU member states.

article thumbnail

Evolve Payment: The Safety of Cash Management

Evolve Payment

Understands the Cannabis Industry: They should understand the nuances of compliance, including restrictions on interstate commerce, varying state laws regarding THC limits and product types, and reporting requirements specific to cannabis businesses.

article thumbnail

From Paper to Digital: The Evolving E-Invoicing Mandate

Trade Credit & Liquidity Management

Key Challenges in E-Invoicing No Universal Standard: Diverse tax laws and business practices prevent a single global e-invoicing standard. Rising Complexity: Businesses must navigate varying regulations, tax compliance, and structured data requirements, all while meeting the demands of governments and trading partners. In Summary.

article thumbnail

ECB outlines plans for integrated regulatory reporting across Europe

Finextra

ECB outlines plans for integrated regulatory reporting across Europe European and national authorities have joined forces with banks to integrate reporting requirements across Europe. But banks in Europe are facing more and more regulatory reporting requirements from various European and national authorities.

article thumbnail

SOX VS SOC – Mapping the Differences

VISTA InfoSec

federal law passed in 2002 to protect investors from fraudulent financial activities. federal law, mandates publicly traded companies to follow strict standards for accounting, auditing, and financial disclosures. law for public companies, ensuring transparent financial reporting. What is SOX? SOX, a U.S.

Audit 130
article thumbnail

Regulatory Challenges in Cryptocurrency Taxation Across Different Jurisdictions

Fintech Review

As digital assets become more widespread, taxation laws are being shaped and adapted to accommodate them. European Union: Inconsistent Approaches to Cryptocurrency Taxation Within the European Union (EU), taxation laws for cryptocurrencies are not uniformly regulated across member states.