Go back to menu

Global Weekly Fintech Update

3 February 2020

03 February 2020

Welcome to this week's global fintech round-up, summarising fintech regulatory developments that have happened around the world along with our Clifford Chance fintech publications and upcoming events.

Details of these and previous developments can also be found on our Fintech Topic Guide on the Clifford Chance Financial Markets Toolkit.

Please click here to subscribe to future editions of the round-up.


New tech round up – Tech Policy Unit Horizon Scanner, February 2020

Talking Tech article – 5MLD for crypto assets – The scope of UK gold-plating

Talking Tech article – Italian court confirms that personal data has economic value in Facebook case


Spotlight: Fintech in 2020: five trends to watch

What does 2020 have in store for fintech developments? From crypto and AI regulation to open data and the next emerging markets fintech hotspots, we tell all in our latest round of fintech predictions.



  • (30 Jan 2020) Bank for International Settlement's Financial Stability Institute report, which contains the results of its cross-country survey of policy responses to fintech developments. | Executive summary
  • (28 Jan 2020) World Economic Forum (WEF) toolkit for central bank digital currency policy-makers.
  • (24 Jan 2020) WEF has announced the launch of the Global Consortium for Digital Currency Governance, an initiative aimed at bringing together companies, financial institutions, technical experts and government representatives to create innovative policy solutions for the issues surrounding digital currencies. | Press release​
  • (23 Jan 2020) WEF panel recording​ on creating a credible and trusted digital currency, including speakers from the Monetary Authority of Singapore, Facebook, EU Commission, Bank for International Settlements and the Massachusetts Institute of Technology.



  • (22 Jan 2020) The Comision Nacional Bancaria y de Valores (CNBV) has announced it has authorised the first firm to operate under the Financial Institutions Act (Ley para Regular las Instituciones de Tecnología Financiera or the 'Fintech Act') as an e-payment or digital wallet entity. | Authorisation (in Spanish)




  • (28 Jan 2020) Payment Services Act enters into force​​. This Act updates the regulatory framework for payment systems and services. It covers, amongst other things, e-money issuances and digital payment token services. | Clifford Chance summary and analysis (from initial gazetting of the Act).



  • (23 Jan 2020) Finance Minister, Oksana Markarova, statement (in Ukrainian), which summarises the ways in which the virtual asset market is now monitored, following the implementation of new anti-money laundering legislation in Ukraine. Amongst other things Markarova notes that the State Financial Monitoring Service of Ukraine has access to an analytical product which allows it to track the origin and use of virtual assets.

Middle East


  • (20 Jan 2020) Israel Securities Authority request for information on potential regulations to promote the adoption and development of innovative technologies aimed at improving the financial services in Israel.

California – Data Business Congress (3-4 Feb 2020):
Clifford Chance is delighted to be sponsoring the Data Business Congress in San Jose, California. Clifford Chance partner Jonathan Kewley will be joined by Akshaya Aradhya (Director, Engineering, LiveRamp), Joy Bonaguro (Former Head, Systems and Data, Corelight Inc.) and Scott Roberts (Senior Counsel, Oracle) to talk about 'Data Ethics – Getting ahead of the curve'. The panel will look at data ethics as a concept, how its principles can be applied in a business-friendly way and liability issues in data-rich industries. | For more information see the events webpage.

London – In conversation with Huw van Steenis (5 Feb 2020, 5:15pm to 6:30pm):
Clifford Chance is delighted to host a conversation with Senior Advisor to the Chief Executive of UBS and former Senior Advisor to the Governor of the Bank of England, Huw van Steenis. Huw's recent review of the future of the financial system for the Bank of England showed that he is one of the leading thinkers in the world on where the financial system goes next – from technology and data regulation to climate change and cyber attacks. Clifford Chance partner Simon Gleeson will be in conversation with Huw, discussing topics such as the future of money and payments, whether the current bank business model is sustainable, how finance might be raised in the future, and how the interaction between the internet giants and the financial system might play out. | For more information and to RSVP please contact our events team.

Additional Information

This publication does not necessarily deal with every important topic nor cover every aspect of the topics with which it deals. It is not designed to provide legal or other advice. Clifford Chance is not responsible for third party content. Please note that English language translations may not be available for some content.

Want to get this round-up delivered directly to your email inbox? Please click here to subscribe to the round-up