Thailand considers fintech regulation

https://www.finextra.com/newsarticle/29212/thailand-considers-fintechregulation
As a first step to building fintech-specific regulatory framework, the
governor has called for fintechs to be registered with the central bank. He also
expects the Payment System Act to be implemented soon, pending final
government approval. The Act will supervise electronic transactions and
provide a system for businesses to verify clients' identities as well as a new
payment standard, the Quick Response Code.
The central bank said that any new rules wil not be too stringent or impede
innovation and will look to provide a 'sandbox' environment where fintechs
can test their innovations in safety. P2P lenders will be allowed membership of
the National Credit Bureau, allowing them to access consumers' credit data
and investment rules governing the amount that financial institutions can
invest in fintechs will be relaxed.

RBI panel to study Fintech, digital banking

http://www.thehindubusinessline.com/money-and-banking/rbi-panel-to-studyregulatory-issues-relating-to-fin-tech-digital-banking/article8849170.ece
The Reserve Bank of India has set up an inter-regulatory Working Group to
study the entire gamut of regulatory issues relating to Financial Technology
and Digital Banking in India.
The Financial Stability and Development Council Sub Committee (FSDC
SC), at its meeting held on April 26, had decided to set up such a Working
Group to look into and report on the granular aspects of Fintech and its
implications.
The Working Group is headed by Sudarshan Sen, Executive Director of RBI,
and has 12 members.
The Group will assess opportunities and risks arising for the financial system
from digitisation and use of financial technology, and how these can be
utilised for optimising financial product innovation and delivery to the benefit
of users/customers and other stakeholders. The Group will also evaluate
implications and challenges vis--vis various financial sector functions such as
intermediation, clearing, and payments, being taken up by non-financial
entities.
It will chalk out an appropriate regulatory response with a view to realigning/re-orienting regulatory guidelines and statutory provisions for

enhancing
Fintech/digital
banking-associated
opportunities,
simultaneously managing the evolving challenges and risk dimensions.

while

In its latest financial stability report, the RBI had flagged the question
Technology: the agathokakological (composed of both good and evil)
companion?The RBI has raised this question in the context of increased
levels of hacking threats and distributed denial of service attacks, which have
the potential for causing significant disruptions in the services of Fintech
ventures, apart from risks related to sensitive customer information and cyber
frauds.