DFSO Publications

The DFSO Publications sections provides an ongoing collection of relevant DFS commentaries, policy documents and publications.

Topic

Country

Crypto Asset Framework

A stylized ‘crypto-asset’ regulatory framework (‘Framework’) is presented and described below. It is designed to capture the regulatory permutations and implications of the most prevalent and evolving forms of tradable value created through the use of evolving cryptographically-based (‘crypto’) schemes, as well as their stylized position in a financial ecosystem. The most prevalent of these value-based schemes are based on what is now known as distributed ledger technologies (DLTs), with the main type of DLT in use known as ‘blockchain’ technology.

Type:
Occasional Paper
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Focus Note: The Use of eIDs and eKYC for Customer Identity and Verification in Developing Countries: Progress and Challenges

This Focus Note discusses current implementations of eIDs and eKYC and its impact on, access to and provision of DFS.

Keywords :
e-KYC - Electronic Know Your Customer
KYC - Know Your Customer
AML - Anti Money Laundering
CFT - Counter Financing of Terrorism
Type:
Other
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Model Memorandum of Understanding Between the Central Bank and the Telecommunications Regulatory Authority

A model memorandum of understanding (MOU) between the central bank and telecommunications regulatory authority of an individual jurisdiction.

Keywords :
Memorandum
Central Bank
National Telecommunications Authority
Type:
Other
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The State of Regulatory Sandboxes in Developing Countries

We review the emergence of a novel regulatory innovation called a ‘regulatory sandbox,’ designed to incubate innovation in the financial sector in a relaxed, but safeguarded regulatory environment. It also provides a symbiotic environment for innovators to test new technologies and for regulators to understand their implications for the financial sector and consumer protection. We assess that for these countries, establishing thematic regulatory sandboxes which focus on specific national financial and developmental priorities - such as remittances - rather than spanning multiple national agendas may be preferred as a more efficient use of scarce resources.

Keywords :
Regulatory Sandbox
Regulatory Framework
FinTech
Type:
Working Paper
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Use of Regtech by Central Banks and its Impact on Financial Inclusion

This study looks generally at how regtech is evolving globally and more specifically at how central banks in developing countries are contemplating the use of regtech, the potential use cases, and any impact on financial inclusion.

Keywords :
RegTech
Financial Inclusion
Type:
Other
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Mobile Coverage and its Impact on Digital Financial Services

Digital Financial Services (DFS) is a relatively recent mobile-centric financial inclusion innovation in developing. Using ubiquitous mobile phones as the means of service access (primarily through 2G narrowband services, with broadband 3G and 4G potentially available), DFS provides the unbanked and underserved - many of whom live in rural areas - with access to basic financial services provided by banks and nonbanks such as mobile network operators and third party DFS providers (DFSPs).

Keywords :
Mobile Coverage
MNO - Mobile Network Operator
Digital Financial Services
Digital Financial Services Ecosystem
Type:
Other
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DFSO Focus Note: DFS in Nepal

This Focus Note reviews the status of the financial ecosystem and the shift from a restrictive to an enabling environment, primarily focusing on current supporting policies, laws, regulations and governmental initiatives.

Keywords :
Digital Financial Services
Digital Financial Services Ecosystem
Type:
Focus Note
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Focus Note: The Role of Digital Financial Services in Humanitarian Crises Responses

This focus note describes the state of DFS use in humanitarian crises responses, available DFS solutions, and strategies to achieve both humanitarian and financial inclusion goals and common barriers to address for successful deployment.

Keywords :
Digital Financial Services
Humanitarian Crises
Type:
Focus Note
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Role of the Telecommunications Regulator in Digital Financial Services

Overall, the purpose of the paper is to provide a fresh perspective on the role of the NTA in relation to the success and growth of DFS and to systemize the understanding of the role of NTAs within the context of DFS.

Keywords :
National Telecommunications Authority
Digital Financial Services
Type:
Other
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The Digital Financial Services Primer

This brief primer on DFS expands on these issues and demonstrates how technological, regulatory and commercial components interact to form the DFS ecosystem.

Keywords :
Digital Financial Services
Digital Financial Services Ecosystem
Mobile Money
Type:
Other
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The Role of Central Banks in Digital Financial Services

This study is part of a series by the author on the role of the primary regulators in the DFS ecosystem, intended to systemize each of their roles.

Keywords :
Central Bank
Digital Financial Services
Digital Financial Services Ecosystem
Type:
Other
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The Role of Regulators in Competition-Related Matters in Digital Financial Services

The purpose of this study is to provide a fresh perspective specifically on the role of regulators who have competition-related competencies over some or all of the components of DFS, for example the financial and telecommunications components.

Keywords :
Competition
Competition Authority
Competition Law
Type:
Other
- Read more about The Role of Regulators in Competition-Related Matters in Digital Financial Services

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Latest Legal Documents

Tax Information Bulletin

This is a new ruling determining how taxation on cryptocurrency earnings will be calculated. This ruling provides clarification on how the legislation will give both employees and companies guidance in handling taxes on permanent employees’ salaries when and if they are paid in crypto.

New Zealand

Ruling

2019
Finma Guidance Payments on the blockchain

In this guidance, FINMA provides information about the application of regulatory requirements for payments on the blockchain for financial services providers under FINMA supervision.

Switzerland

Guidance

2019
Guidance – Regulation of Digital Securities Activity in ADGM

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has enhanced its crypto guidance. This is the second edition to the initial guidance published in June 2018 and it regulates entities operating crypto-asset businesses, including activities undertaken by crypto-asset exchanges, custodians and other intermediaries.

United Arab Emirates

Guidance

2019

Legal Disclaimer: The content appearing on this site is for general information purposes only and made available on an "AS-IS" basis. The law is subject to change and no representation or warranty is made with regard to accuracy or fitness for a particular purpose.

DFSO Publications

Crypto Asset Framework

Focus Note: The Use of eIDs and eKYC for Customer Identity and Verification in Developing Countries: Progress and Challenges

Model Memorandum of Understanding Between the Central Bank and the Telecommunications Regulatory Authority

The State of Regulatory Sandboxes in Developing Countries

Use of Regtech by Central Banks and its Impact on Financial Inclusion

Mobile Coverage and its Impact on Digital Financial Services

DFSO Focus Note: DFS in Nepal

Focus Note: The Role of Digital Financial Services in Humanitarian Crises Responses

Role of the Telecommunications Regulator in Digital Financial Services

The Digital Financial Services Primer

The Role of Central Banks in Digital Financial Services

The Role of Regulators in Competition-Related Matters in Digital Financial Services

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