I don’t believe that information is power in 2021, especially not in FinTech. Information about how one should run a FinTech business is everywhere and you can get it for free. More information does not empower anyone, more likely than not – it just creates overwhelm. Which is why, in Read more…
So the doors to Compliance That Makes Sense Helpline are now open and we are accepting new participants. In January 2021, we will celebrate 2-year anniversary (can you imagine that!!!) and there are some clients who are still with us to date! Here is how you know if Compliance Helpline can actually help Read more…
I shared earlier that, in my view, the Liechtenstein Blockchain Act is a very advanced, helpful and comprehensive legislation, providing a lot of clarity for market participants. However, as everyone moves into implementation, most FinTech startups I talked to, run into some level of ambiguity with the following critical questions: Read more…
One of the FAQs I get all them time is “how long does it take to get a financial license” and “what can I do to make it faster”? Someone even texted me “what can I do to get a license in 3 months” 🤣 An average payments or e-money license Read more…
Photo by Aslı Yılmaz on Unsplash I sometimes feel that confusions and misperceptions about passporting of financial licenses across EU/EEA is an ever-growing bubble. Today, we will burst this bubble once and for all! Passporting is a formal recognition of your company’s rights to operate freely in any EEA country Read more…
It is not uncommon to see regulatory requests for cryptocurrency-focused businesses to split activities into 2 parts: regulated and non-regulated. For example, the licensed (e.g. regulated) entity may be dedicated to operations with fiat funds and fiat deposits, and non-regulated entity would be facilitating transactions with cryptocurrencies or managing Read more…
Regulator provided clear distinction between e-money (formerly stored value) and digital payments tokens. Digital payment token: Expressed as a unit Not denominated as a currency and isn’t pegged to one Is / will be a medium of exchange, will be accepted as payment for goods and services OR debt Read more…
My biggest takeaway from reading the Liechtenstein Blockchain (they named it “TT” for “trustworthy technology” – to ensure that the law is technology-neutral) Act draft version is that many of its provisions make a lot of sense. I really liked how a token is defined as a representation of any Read more…
On January 1st, 2019 a new license type will become available to FinTech companies established in Switzerland. This so-called FinTech Authorization was introduced as an amendment to the Swiss Banking Act on June 15th, 2018, and has now come into force. In summary, if the number of clients’ funds accepted Read more…