On 6 February, 2018, the Hong Kong Monetary Authority (the “HKMA”) published draft revisions to its “Guideline on Authorization of Virtual Banks” (the “Draft Guideline”).
The framework will support the authorization in Hong Kong of ‘virtual banks’, defined as banks which deliver retail banking services primarily, if not entirely, through the internet or other electronic channels … Continue Reading
The internet has become today’s global trade route, and personal data is one of its major currencies. The growth in the digital economy is impressive. One study found that economic activity taking place over the internet is growing at 10% per year within the G-20 group of nations. In the United States alone, one estimate found that companies exported nearly … Continue Reading