Emily Chang - host of Bloomberg Technology - meets Sam Bankman-Fried: the CEO of FTX, the popular trading platform, talks about what to expect for the crypto market in 2022, with a focus on regulation.

Despite adversities, El Salvador is continuing to improve its Bitcoin program. After the first crypto became legal tender in the country, El Salvador is now thinking about new solutions to reward Bitcoin investors and increase the number of financial instruments based on the cryptocurrency.

If we have to see the upside, the pandemic forced firms to focus more on people needs, and to find easy and useful solutions to overcome the many issues that people and businesses were facing - and are facing. Some of the solutions found may continue to be improved even after pandemic, and Fintech Futures covers the main three in this article.

If financial institutions have so far guarded our financial assets, they could now be able to guard another kind of asset that is becoming more important in our lives: digital identities. Rod Boothby, Global Head of Identity at Santander, is also the co-chair of the Open Digital Trust Initiative and is cooperating to create the Global Assured Identity Network (GAIN).

London is one of the cities with more fintech firms and EMIs, electronic money institutions, but the amount of illegal activities in which some of them are involved may prevent the city from becoming a trustworthy authority in the fintech space.

Fintech is booming in Latin America, and governments try to adapt to the needs of businesses by adjusting regulatory frameworks. Mexico is no exception: with 450 fintech startups it is now the largest fintech hub in Latin America, but the Mexican “Fintech Law” - passed in 2018 - seems to address just a few fintech firms.

Alex Johnson and Jason Mikula discuss fintech topics and make predictions about what 2022 has in store for us. The focus of this episode of Fintech Takes is on new payment methods and institutions - especially for what concerns BNPL (Buy Now, Pay Later).

China's regulators just issued a five-year development plan: regulators outlined standards to regulate digital currencies, the financial industry, green finance and fintech in gereral. The goals of these standards are risk prevention, growth and a modern and regulated financial system.

DriveWealth - the startup that helps fintech firms offer stocks - is acquiring a crypto firm - Crypto-Systems. According to the CEO of DriveWealth, Bob Cortright, they want to avoid unsustainable fees and wild spreads, to make crypto markets more "regular".

Virginia is one of the most crypto-friendly states in the US, and the last move of the government in this sense is to allow banks to provide crypto custody services to crypto users. But there is one point that may prevent crypto traders and investors from using these services: the bank needs your private keys.

Telis Demos raises a question: what will happen when zero interest rates will end? This is the actual advantage of many neobanks, but the competition between new banks and traditional banks may not be such an easy game in the future.

Gwera Kiwana and Sam Rai are joined by Roger De’Ath (Truelayer) and Jimmy Fong (SEON) to discuss the most relevant developments in financial technology: the partnership between Klarna and eBay, HSBC that buys land in the metaverse, Revolut’s support to Ukrainian refugees, and much more.

The OECD (Organisation for Economic Cooperation and Development) proposes a new tax framework for crypto holders: the organization said that cryptocurrencies put at risk tax transparency, and that the space needs additional safeguards.

Seven U.S. states – New Jersey, Texas, Oklahoma, Alabama, Washington, Kentucky and Vermont – are checking the “Earn Program” launched by the Canadian fintech company Voyager. This company offers crypto accounts and, according to these states, these instruments may be unregistered securities.

David M. Brear and Sim Rai are joined by Alan Ainsworth (OBIE), Axel Bruzelius (ArK Kapital) and Shaun Port (Chase UK) to discuss the latest funding rounds, regulatory frameworks and innovation in the fintech space.

John Glen, the Economic Secretary of the Treasury of the U.K., said that the country is taking all the necessary steps to regulate the crypto space: the government wants to focus on stablecoins to allow the crypto market to flourish in the country – but within regulatory boundaries.

Tiffany Kary talks about the interesting developments in the cannabis industry, and the role of fintech players: “cannabis fintech” is what the industry needs to avoid compliance concerns, thanks to the use of alternative payment methods.

Fintech firms in the mortgage market are allowing poeple – especially younger homebuyers – to get loans easier, but this might have downsides: the IMF analysis shows that while fintech companies offer more benefits compared to traditional financial institutions, regulators should keep an eye on their business models to avoid a new housing bubble.

Fabio Panetta, member of the European Central Bank, asked for new regulatory frameworks and taxes for what concerns the crypto space: Panetta compared cryptos to Ponzi schemes and said that they could represent a new bubble.

The Biden administration is working on a new regulatory framework for cryptos in the US, and as a part of this effort SEC is adding new staff members to fight crypto scams.

The United Kingdom is among the countries that focus on stablecoins to adopt these digital currencies and incorporate them into national economic systems. But after the recent chaos in the crypto space, further regulation is needed according to the country.

Also the United States wants further regulation for stablecoins. The Securities and Exchange Commission (SEC) discusses this topic especially after the shock that hit even stablecoins.

The collapse of Terra affected the whole crypto space: fear prevailed among investors, as well as distrust. Regulators are riding the wave, but in reality some CEXs used risk-management systems to protect their users.

The popular actor and producer Seth Green is also an NFT collector. Unfortunately, 4 of his NFTs were stolen as the result of a phishing fraud – but one of these, a Bored Ape, should be the main character of the next show produced by Green.

The battle between Meta and German regulators had a huge impact on developers and local startups. The popular product of the company, Oculus – a VR headset, was removed from the German market, and this is causing problems to all those who want to enter the billionaire VR market.

The first green fintech classification is live: the new taxonomy was created by the Green Digital Finance Alliance and the Swiss Green Fintech Network.

According to CoinShares, the crypto market crash could be explained by looking at the Federal Reserve's rhetoric. The report by the investment company shows that over $100 million worth of cryptos exited the US market during the past week: investors may have closed their positions in anticipation of an aggressive monetary policy designed to combat the impressive levels of inflation.

The Shanghai Fengxian Court has invalidated the sale of a car made in May 2019 using digital currencies. The crypto was UNIH (Unihash), labeled a scam after its launch – actually, the token is worthless.

The consequences of the Terra crash are not yet over. The Financial and Securities Crime investigation team issued an order that prohibits people involved in the crypto project from leaving South Korea.

The Financial Conduct Authority shares some interesting recommendations for fintech firms. Their financial products are easily accessible, and there should be more regulation to guarantee users’ safety and favor the improvement of customers’ credit.

The founder of the popular fintech company Wise, Kristo Kaarmann, has drawn the attention of the FCA – Financial Conduct Authority – for tax evasion.

Even if China took severe measures against the crypto space, limitations don’t involve NFTs – as long as they comply with national regulations: considered more as an expression of cultural creativity, NFTs – or digital collectibles – are the next big thing for Chinese tech giants. That’s why top tech companies issued a “self-disciplined development proposal”: even if not legally binding, it could force the government to clarify the regulatory framework concerning NFTs. Companies use private blockchains to develop collectibles: people can pay for them only using yuan, and trading is discouraged.

Misha Osipov, founder of the fintech firm Nova Credit, addresses an interesting topic: fintech-focused migrations. The country chosen by fintech enthusiasts is the UK: despite Brexit, the government seems to want to get back to “pre-Covid immigration levels.” The UK is not only the place where entrepreneurs find new fintech companies but also the place where you can develop fintech-related skills.

Spain is now among the countries that accepted Binance and added the crypto company in their crypto registries. But as the European Union prepares a new regulatory framework for cryptocurrencies, France may change its mind.

While big crypto companies like Celsius and Voyager file for bankruptcy, many are the questions about the possibility of recovering crypto funds when such centralized companies fail. Crypto regulation is still under development, and this means that in these cases investors might not be able to recover their funds. Fortunately, people and businesses can take measures to protect their crypto funds – but also these solutions come with some risks.

Jeremy Hogan, the attorney who has been following the case of Ripple, states that the judge in charge, Sarah Netburn, is tired of the SEC: the Securities and Exchange Commission is not producing the required documentation and constantly files objections. This is one of the most discussed cases about cryptocurrency regulation: how will this end?

Another crypto-related business hit by the SEC is the popular Coinbase. The allegation concerns the listing of some securities on the crypto exchange. Coinbase disputed the allegation and its chief legal officer, Paul Grewal, stressed that the exchange simply “does not list securities.”

The billionaire Jack Ma plans to give up control of the Chinese fintech giant Ant. The decision comes after years of pressure from the Chinese government, which also halted Ant’s IPO in 2020.

Regulators hit two Kenyan fintechs, Flutterwave and Chipper Cash, for not having the necessary licenses to operate in the financial sector. The Central Bank of Kenya has informed the customers of the two companies to stop dealing with the two fintechs.

The billionaire Jack Ma plans to give up control of the Chinese fintech giant Ant. The decision comes after years of pressure from the Chinese government, which also halted Ant’s IPO in 2020.

Regulators hit two Kenyan fintechs, Flutterwave and Chipper Cash, for not having the necessary licenses to operate in the financial sector. The Central Bank of Kenya has informed the customers of the two companies to stop dealing with the two fintechs.

The billionaire Jack Ma plans to give up control of the Chinese fintech giant Ant. The decision comes after years of pressure from the Chinese government, which also halted Ant’s IPO in 2020.

Regulators hit two Kenyan fintechs, Flutterwave and Chipper Cash, for not having the necessary licenses to operate in the financial sector. The Central Bank of Kenya has informed the customers of the two companies to stop dealing with the two fintechs.

The billionaire Jack Ma plans to give up control of the Chinese fintech giant Ant. The decision comes after years of pressure from the Chinese government, which also halted Ant’s IPO in 2020.

Regulators hit two Kenyan fintechs, Flutterwave and Chipper Cash, for not having the necessary licenses to operate in the financial sector. The Central Bank of Kenya has informed the customers of the two companies to stop dealing with the two fintechs.

Ukrainian fintech companies proved to be extremely resilient. With a tradition of valuable fintech products and firms, the industry didn’t stop working and growing despite the war. This could lead to new investments and a stronger regulatory environment for the country.

**Ronald Reagan once succinctly summarized the US government’s view on regulation the following way: “If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it”. Taking the UK as an example, financial technology is worth c.GBP7billion and employs around 60,000 people - safe to say, the sector is on a roll. On top of the direct economic effect, one has to consider fintech’s wider broader economic impact from lowering the lower cost of credit or insurance, improving the level of financial inclusion and reducing financial transaction costs across remittances, payments and investments.**