The April edition of my Global #Fintech Monthly Monitor is now out with all the month’s Fintech news that’s fit to print! Make sure to click on the link at the bottom of the post to see it in its full glory, including tables with bonus information! Also, please send feedback as this is still a work in progress. Check it out here: https://theglobalfintechintelligencer.com/2021/05/02/kiffmeisters-global-fintech-monthly-monitor-april-2021
Digital Dollar Project to Launch Pilots to Explore CBDC Designs and Uses
The Digital Dollar Project (DDP) will launch at least five pilot programs over the next 12 months with interested stakeholders and DDP participants to measure the value of and inform the future design of a U.S. central bank digital currency (CBDC), or “digital dollar.” The selection process is already underway, with the first three to be announced within the next two months. The DDP intends to make its CBDC test ground transparent and accessible to all stakeholders, public and private.
Thai government to require in-person ID checks for new crypto accounts
The Thai Anti-Money Laundering Office reportedly announced that, starting in September, local digital exchanges must verify their customers’ identities through a “dip-chip” machine that requires clients to be physically present. Most large gold shops have been using ID card dip-chip machines for identity verification for 4-5 years because it is more convenient than photocopying.
Turkey Forces Crypto Exchanges to Report More Customer Information
The Turkish government has added crypto-asset exchanges to the list of firms subject to the country’s anti-money laundering and combating the funding of terrorism (AML-CFT) regulations. The regulatory change took immediate effect after the presidential decree—similar to an executive order in the US—was published in the Official Gazette last week.
*For those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks: https://www.diigo.com/user/kiffmeister/Fintech