International Developments in FinTech


MAS launches fintech match-funding program.  The Monetary Authority of Singapore (MAS) will begin providing “match-funding” to fintech firms conducting  to “promising” proof-of- concept trials in Singapore. MAS will “fund 50% of the costs, up to a maximum of S$200,000 per project,” for fintech ideas that have the potential to benefit “the financial system at large.”…

Russia upholds LinkedIn ban over data protection fears | Reuters


A Russian court on Thursday upheld a decision to block the website of social networking company LinkedIn Corp., Interfax news agency reported, setting a precedent for the way foreign internet firms operate in the country. Russia’s Roskomnadzor communications watchdog has said LinkedIn, which has more than 6 million registered users in Russia, was violating a…

Asia financial body says China cyber security law could make risk management harder | Reuters


China adopted a cyber security law on Monday to counter what the government said were growing threats such as hacking and terrorism. Foreign business and rights groups expressed concern that the law could, for instance, bar foreign companies from certain sectors. The legislation, set to take effect in June 2017, includes requirements for security reviews…