Global Fintech & Digital Assets Blog

Category Archives: Investing in Fintech

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Hong Kong Regulators Update Guidance for Intermediaries’ Virtual Asset-Related Activities

Revamped SFC and HKMA guidance applies to intermediaries that distribute products or provide dealing, advisory, and asset management services related to virtual assets. By Simon Hawkins and Adrian Fong On 20 October 2023, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) issued a joint circular (Joint Circular) to provide updated … Continue Reading

Podcast: Will Insurtech Reach New Heights in 2023?

Poised for a banner year, insurtech has drawn the attention of investors and regulators alike. Insurtech has become a darling of both traditional players in the insurance market and disruptive fintech operations. The coming year looks to continue this trend, with companies looking to insurtech as a venue for penetrating new markets. Yet as insurtech’s … Continue Reading

Hong Kong Launches International Carbon Marketplace, Singapore Introduces ESG Hub

Hong Kong’s Core Climate aims to facilitate trading of carbon credits, while the Hub plans to expedite Singapore’s ESG ecosystem growth. By Farhana Sharmeen, Paul A. Davies, and James Bee On 28 October 2022, the Hong Kong Exchange and Clearing Limited (HKEX) launched Core Climate, Hong Kong’s International Carbon Marketplace. The birth of Core Climate … Continue Reading

Taskforce Proposes New Approach to Financial Regulation in the UK

A report from the Taskforce on Innovation, Growth and Regulatory Reform provides recommendations for how the UK can “re-imagine” its approach to regulation post-Brexit. By Rob Moulton, Stuart Davis, and Charlotte Collins On 16 June 2021, the Taskforce on Innovation, Growth and Regulatory Reform (the Taskforce) published a report (the Report) providing recommendations for how … Continue Reading

Hong Kong Fintech Week 2020: 3 Key Policy Initiatives of the HKMA

The HKMA introduces a new data sharing initiative, reported on the central bank digital currency initiative, and outlined regtech plans.  By Simon Hawkins, Kieran Donovan, and Kenneth Y.F. Hui The fifth annual Hong Kong Fintech Week conference kicked off with speeches and panels from both Hong Kong and international regulatory representatives, in addition to key … Continue Reading

UK Government Launches Major Independent Review of UK Fintech Sector

The Fintech Strategic Review aims to ensure the ongoing growth and success of UK fintech as a world leader in financial innovation. By Stuart Davis and Anna Lewis-Martinez On 20 July 2020, HM Treasury announced the launch of an independent review into the UK’s fintech industry to “identify opportunities to support further growth in the … Continue Reading

Telegram: Court Halts Grams Delivery

SEC’s motion for a preliminary injunction is granted, prohibiting delivery of Telegram tokens to purchasers. By Stephen P. Wink, Shaun Musuka, Carolina Bernal and Deric Behar On March 24, the Court in the Southern District of New York sided with the SEC and granted an injunction prohibiting Telegram Group Inc. and TON Issuer Inc. (together, Telegram) from delivering … Continue Reading

Competition and Innovation in the UK’s New Payments Architecture

Call for input: market players need to engage with the process for the procurement of the NPA By Stuart Davis, David Little, Christian McDermott, Brett Carr, and Nathan Wilkins This Call for Input is part of the development of the Payment Systems Regulator’s (PSR) policy for the future regulation of the newly procured New Payments … Continue Reading

Mexico Issues First License Under New FinTech Law

The landmark authorization signals the Mexican government will likely grant similar licenses to more FinTech companies in the coming months. By Yvette Valdez, Roderick Branch, and Daniel Gallo Mainero* Nearly two years after the Mexican government enacted its Financial Technology Institutions Law (FinTech Law), the Mexican National Banking and Securities Commission (CNBV) issued its first license … Continue Reading

Podcast: Breaking Down Crypto Derivatives

Latham derivatives and FinTech partner Yvette Valdez explores regulatory issues impacting cryptocurrency derivatives on the Fintech Beat podcast. By Yvette D. Valdez New York partner Yvette Valdez, a member of Latham & Watkins’ FinTech Industry Group, recently discussed timely issues at the intersection of cryptoassets and derivatives law on a new episode of Fintech Beat. … Continue Reading

Italian Ministry Launches a Public Consultation on FinTech Sandbox

The FinTech sandbox would aim to foster innovation in the financial, credit, and insurance sectors. By Antonio Coletti and Isabella Porchia The Italian Ministry of Economy and Finance has launched a public consultation on a draft ministerial decree (Draft Decree) implementing the mandate received by the Italian legislature (Decreto Crescita) to set up a regulatory … Continue Reading

Digital Asset Regulation: Howey Evolves & The Pursuit of Sufficient Decentralization

In two recent articles, Latham & Watkins lawyers examine the SEC’s guidance on the application of securities regulations to digital assets and the questions that remain unanswered. By Stephen P. Wink, Witold Balaban, John J. Sikora, Miles P. Jennings, Emanuel V. Francone, Cameron R. Kates, and Shaun Musuka Digital Asset Regulation: Howey Evolves In this … Continue Reading

Open Finance: The Next Frontier in Fintech?

Call for input: Industry needs to engage as the FCA moves forward on its transformative vision for open finance. By Stuart Davis and Brett Carr Imagine a world in which you could access your bank accounts, credit cards, mortgage, pensions, savings accounts and ISAs, brokerage account, home and car insurance, life insurance, and other financial … Continue Reading

The CFTC Takes New Steps to Promote Innovation and ‘Explore the Unwritten Future’

The US derivatives regulator continues to foster FinTech adoption and leadership in US markets. By Yvette D. Valdez, Douglas K. Yatter, and Deric Behar The US Commodity Futures Trading Commission (CFTC) has affirmed its commitment to engaging the fast-moving financial technology world by elevating its LabCFTC unit to be an independent operating office within the … Continue Reading

Podcast: Macro and Regulatory Developments Impacting Stablecoins

Latham FinTech partners discuss the evolving stablecoin landscape on the New Territories Podcast. By Christian F. McDermott, Yvette D. Valdez, and Stephen P. Wink New York partners Yvette Valdez and Stephen Wink and London partner Christian McDermott recently discussed the evolving stablecoin landscape on new episodes of The Brooklyn Project’s New Territories Podcast. The partners, … Continue Reading

Hong Kong FinTech Week: Day 1 in Review

SFC outlines new regulatory framework for virtual asset trading platforms, HKMA highlights recent FinTech initiatives, and PBOC discusses China’s forthcoming central bank digital currency. By Simon Hawkins and Kenneth Y.F. Hui The fourth annual Hong Kong FinTech Week conference kicked off with a major announcement from Mr. Ashley Alder, Chief Executive Officer of the Securities … Continue Reading

Cryptoasset Trading Platforms: A Regulatory Trip Around the World

Latham & Watkins lawyers provide an in-depth look at the regulation of cryptoasset trading platforms in key jurisdictions. By Todd Beauchamp, Nozomi Oda, Yvette D. Valdez, Stephen P. Wink, and Simon Hawkins Cryptoasset trading is a fast-growing part of the financial sector. Some countries have wholeheartedly embraced cryptoassets; others have been more reticent to permit … Continue Reading

UK FinTech State of the Nation Report Highlights UK’s Leading Position

Report highlights key strengths and regulatory innovations to inform stakeholders for trade and investment. By Laura Holden and Nootan Vegad The Department for International Trade, with the support of Innovate Finance, has published a report titled the “FinTech State of the Nation”. Providing an overview of the UK’s FinTech industry and highlighting the UK’s appeal … Continue Reading

To Charter or Not to Charter? Federal Judge Presses Pause on the OCC’s Plans

Federal court allows NYSDFS lawsuit against OCC FinTech charter to proceed, raising further questions about the charter’s viability. By Alan W. Avery, Todd Beauchamp, Loyal T. Horsley, Pia Naib, and Charles Weinstein In a May 2 order, US District Court Judge Victor Marrero rejected the Office of the Comptroller of the Currency’s (OCC’s) recent motion … Continue Reading

First Virtual Bank Licenses Granted in Hong Kong

The HKMA has issued three virtual banking licenses as part of its broader initiatives to develop the local banking industry. By Simon Hawkins and Kenneth Hui The Hong Kong Monetary Authority (HKMA) recently announced the issuance of the first virtual banking licenses to three entities. Virtual banks in Hong Kong are banks that primarily deliver … Continue Reading

From Geek to Chic: The Rapid Evolution of Payments and Cryptocurrencies and the Potential of Digital Central Banking

International perspectives on regulatory developments impacting innovation in financial services. Approximately 100 financial institutions and emerging companies recently convened in London for a forum on regulatory developments and other considerations that will impact innovation in financial services this year. The Latham-sponsored event — “From Geek to Chic: The Rapid Evolution of Payments and Cryptocurrencies and … Continue Reading

Of Robos and Regulators: The US Regulatory Landscape for Digital Advice

Industry leaders outline best practices for digital advice platforms at compliance seminar. By Stephen P. Wink and Naim Culhaci Robo-advisers, or digital advice platforms, have rapidly become a standard part of financial services offerings. Virtually every incumbent retail brokerage firm either has established or is planning to establish a digital advice platform, joining the pure … Continue Reading

What EBA’s Outsourcing Guidelines Mean for Financial Institutions

The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. By Fiona M. Maclean and Laura Holden On 25 February 2019, the European Banking Authority (EBA) published a final report on its draft guidelines on outsourcing arrangements (Guidelines). The report followed the EBA’s publication … Continue Reading
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