About: FinTech
LEAK: Commission plans new revolution for “open finance” in 2022
The European Commission wants financial firms and other companies to share more customer data to create a “broader open finance space" with new services for citizens, according to a draft of the Digital Finance Strategy seen by EURACTIV.
Mastercard senior executive: ‘We want to help to achieve European sovereignty’
The European Commission will unveil later this year a strategy to integrate the retail payment sector in Europe and reduce dependency on third-country credit card firms. Mastercard, one of those players, is supportive of the EU strategy, its senior executive, Jason Lane, told EURACTIV.
Commission to present ‘strong’ rules for Facebook’s Libra
The European Commission will present later this year new rules to develop a “sound” crypto-asset market in the EU, including for stablecoins such as Facebook’s digital currency Libra, financial services commissioner Valdis Dombrovskis, said on Tuesday.
FinTech may bring solutions to refugees excluded from financial services, report says
Many refugees living in Europe are still struggling to access basic financial services leading to some choosing informal or illegal alternatives to take loans, transfer money internationally, or make online purchases, a new report has found.
Happy as a ‘sandbox’: Bulgaria’s tech upsurge
The creation of a "sandbox" - a safe environment where FinTech companies can test their products - is big news for Bulgaria and the entire tech community in Central and Eastern Europe, write Eduard Tsvetanov and Filip Genov.
Premier of Bermuda: ‘Global minimum tax is anti-competitive’
Bermuda wants to leave behind its reputation as a tax haven to become a Fintech hub. In an interview with EURACTIV.com, the premier of the UK’s overseas territory, David Burt, said the island could come out of the EU’s 'grey list' of tax havens early next year. But he criticised a global minimum tax as he praised tax competition among countries.
EU divided over implementation of payments directive
The European Commission questioned on Wednesday (25 September) some member states’ decision to grant at least 18 months to banks for the full implementation of the European Payments Services Directive 2, which requires stronger authentication procedures for online payments.
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Leak: These are the five priorities for the next finance Commissioner
A new strategy for the capital markets union, fintech, financial stability, sustainable economy and Brexit are the priorities listed for the next financial services commissioner, according to the memo drafted by European Commission officials and seen by EURACTIV.com.
EU watchdog gains new powers to fight money launderers
Member states on Monday (1 April) approved giving new powers to the European Banking Authority (EBA) to fight money laundering and terrorism financing, as part of an improvement of the European supervisory agencies (ESAs).
Commission eyes FinTech to boost euro’s role on global stage
New pan-European payment instruments, including solutions based on emerging technologies in the financial sector or FinTech, are a part of the European Commission’s plan to boost the euro's standing in international markets.
Europe moves towards a common approach to regulate cryptoassets
European decision-makers and regulators are progressing towards an EU approach for dealing with cryptoassets, digital assets that use cryptography such as Bitcoin and represent a booming market still viewed with concern by financial supervisors.
Europe postpones response to cryptocurrencies to end of year
The European Commission will assess whether new rules are needed against the “substantial speculation” of digital currencies, Commission vice-president Valdis Dombrovskis said on Monday (26 February).
Commission holds its fire against Bitcoin and Co.
The European Commission is still hesitant to regulate cryptocurrencies, despite a warning issued by European regulators and bans imposed in other regions following the rising market volatility of digital currencies.
Economy, finance take centre stage in Commission’s final legislative push
Initiatives to strengthen the financial markets and deepen the economic and monetary union will play a major role in the European Commission’s work programme for 2018, the final one before the legislative machine slows down in the run-up to European elections in 2019.
Notaries turn blockchain into ally for digital transactions
Once feared as a technology that would make legal practitioners redundant, blockchain has now actually strengthened the role of notaries as interpreters of complex transactions, best illustrated by the convoluted issue of land registries.
Commission wants bigger role for regulators in sustainable finance development
The European Commission has proposed giving the European Supervisory Authorities broader powers to determine what represents environmental, social and governance investment and to monitor banks’ activities in this field.
GDPR: A challenge for the financial services industry
The brave new world of data presents many challenges for the financial services industry and regulators alike. But if the right approach to regulating technological change is taken, Europe will continue to be a globally leading centre in the future, writes James Kemp.
The EU’s FinTech strategy: Can Europe compete globally?
2017 will be a pivotal year for FinTech. The European Commission recently published a consultation and the European Parliament voted on its own initiative report in May. Both initiatives will input into an EU FinTech strategy expected by the end of the year.
Darknet guru: New technology can help build European identity
Modern technology could shore up the European project, boost transparency and help governments collect taxes. Author Jamie Bartlett told EURACTIV.com that the EU should become the great technological innovator but warned that politicians simply aren’t prepared for massive changes ahead.
Commission struggles with tax exemptions in EU-wide pension proposal
European Commission Vice-President Valdis Dombrovskis admitted on Thursday (8 June) that full harmonisation across Europe, for the tax regime applied to the upcoming EU-wide personal pension insurance, was "unlikely".
MEPs side with innovators on FinTech
Supporting innovation should be the driving force behind the EU response to the emerging field of financial technology, European lawmakers said in a draft resolution adopted yesterday (25 April).
Brussels eyes EU-wide licence for FinTech startups
The European Commission wants to create a special regime to attract FinTech companies in Europe and help the old continent compete globally on this promising new market, EU sources told EURACTIV.com.