Regulatory
Global: Germany to Implement Biometric Photo Standards for ID Documents
Starting in May 2025, Germany will mandate that its citizens provide photographs adhering to biometric standards when applying for identification documents. This initiative ...
Regulatory
Global: South Korean Regulator Takes Strides to Strengthen Digital Asset Regulations
The Financial Supervisory Service (FSS) of South Korea is actively working on supplementary regulations to reinforce the Virtual Asset Users Protection Act, which ...
Nigeria
Nigeria: FIRS to Commence Nationwide VAT Compliance Review and Audit of Companies and Entities
The Federal Inland Revenue Service (FIRS) of Nigeria has set a two-week deadline for all tax agents across the country to remit Value ...
Regulatory
Global: Fed Governor Bowman Expresses Concerns Over Potential ‘Digital Dollar’ and Risks
Michelle Bowman, a Governor at the U.S. Federal Reserve, has voiced reservations about the idea of the United States entering the realm of ...
Nigeria
Nigeria: Telcos Contemplate USSD Service Withdrawal Amid N120 Billion Debt Dispute with Banks
Telecommunication companies are contemplating a potential withdrawal of Unstructured Supplementary Service Data (USSD) services provided to Deposit Money Banks (DMBs) as a final ...
Nigeria
Nigeria: CBN Deducts N430 Billion from Banks as Short-Term Rates Decline
Amid economic uncertainties, the Central Bank of Nigeria (CBN) has imposed a substantial penalty of N430 billion on banks for their failure to ...
Regulatory
Global: SEC Chief Issues Warning About AI’s Potential to Trigger Financial Crisis
Gary Gensler, the head of the Securities and Exchange Commission (SEC), has issued a stark warning, suggesting that artificial intelligence (AI) could pave ...
Regulatory
Global: Fintech and AI Leaders Raise Concerns About Regulatory Challenges in Parliament
An assembly of leaders from the fintech and artificial intelligence (AI) sectors convened in the UK’s Parliament for a special discussion addressing the ...
Regulatory
Global: FCA Imposes Customer Onboarding Restrictions on Modulr Pending Regulatory Compliance
The UK’s Financial Conduct Authority (FCA) has taken measures to restrict customer onboarding for Payments-as-a-Service provider Modulr until it aligns with the latest ...
Regulatory
Global: Australian Regulator Imposes $386,000 Fine on Musk’s X Platform for Anti-Child Abuse Compliance Lapses
Australia’s e-Safety Commission has issued a fine of A$610,500 ($386,000) to Elon Musk’s social media platform, X, due to its lack of cooperation ...