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House panel pushes for bill on use of digital payments

(PNA graphics) MANILA - A House of Representatives panel has approved a bill seeking to promote the adoption of digital payments for financial transactions of the government and all merchants. During a hearing on Tuesday, the House Committee on Banks and Financial Intermediaries, chaired by Manila Rep. Irwin Tieng, approved the consolidated version of House Bills 275, 358, 2946, 3737, 4344, and 5073, or the proposed "Use of Digital Payments Act." Tieng said the proposal is advantageous for both the merchant and the customer. He explained that with digital payments, merchants would no longer need to hire a cashier to handle physical currency while the buyer would no longer need to prepare coins and bills for payment. Tieng added that the sales of the merchant would be more secure because electronic payments go directly to the store's account, which cannot be easily pilfered or stolen by employees or shoplifters. He also cited the lesser face-to-face transactions between go ....

Davao City , Irwin Tieng , Ferdinandr Marcos Jr , Sarah Daway Ducanes , Paolo Duterte , National Economic , Development Authority , House Committee On Banks , Philippine Development Plan , Development Advisory Council , House Committee , Financial Intermediaries , House Bills , Digital Payments Act , House Bill , Electronic Money Act , Governance Bill , President Ferdinand , Legislative Executive Development Advisory , Na Graphics Manilaa House Of Representatives Panel Has Approveda Bill Seeking To Promote The Adoption Digital Payments For Financial Transactions Government And All Merchants Duringa Hearing On Tuesday , He House Committee On Banks And Financial Intermediaries , Haired By Manila Rep Irwin Tieng , Pproved The Consolidated Version Of House Bills 275 , Nd 5073 , R The Proposed Quot Use Of Digital Payments Act Tieng Said Proposal Is Advantageous For Both Merchant And Customer He Explained That With , Erchants Would No Longer Need To Hirea Cashier Handle Physical Currency While The Buyer Prepare Coins And Bills For Payment Tieng Added That Sales Of Merchant Be More Secure Because Electronic Payments Go Directly Store 39s Account ,

At a glance: cryptoassets for investment and financing in Austria

An overview of key legal and practical considerations surrounding the use of cryptoassets for investment and financing in Austria, including regulatory thresholds and the rules governing ICOs. ....

Payment Services , Financial Market Authority , Financial Action Task , Investment Fund Managers , Money Laundering Reporting Office , Banking Act , Financial Instruments Directive , Payment Services Act , Securities Supervision Act , Alternative Investment Fund Managers Act , Electronic Money Act , Capital Markets Act , European Economic Area , Austria Advertising , Alternative Financing Act , Money Laundering Reporting Office Sanctions , Financial Action Task Force , Aw Firms , Aw Updates , Egal Updates , Egal Developments , Aw Developments , Egal Newsletters , Egal Current Awareness , Egal Advisers , Egal Advisors ,

At a glance: cryptoassets for investment and financing in Austria

An overview of key legal and practical considerations surrounding the use of cryptoassets for investment and financing in Austria, including regulatory thresholds and the rules governing ICOs. ....

Payment Services , Financial Market Authority , Financial Action Task , Investment Fund Managers , Money Laundering Reporting Office , Banking Act , Financial Instruments Directive , Payment Services Act , Securities Supervision Act , Alternative Investment Fund Managers Act , Electronic Money Act , Fintech Contact , Capital Markets Act , European Economic Area , Austria Advertising , Alternative Financing Act , Money Laundering Reporting Office Sanctions , Financial Action Task Force , Aw Firms , Aw Updates , Egal Updates , Egal Developments , Aw Developments , Egal Newsletters , Egal Current Awareness , Egal Advisers ,

At a glance: cryptoassets for investment and financing in Austria

Regulatory threshold
What attributes do the regulators consider in determining whether a cryptoasset is subject to regulation under the laws in your jurisdiction?
The Financial Market Authority (FMA) operates a ‘technology-neutral’ approach, meaning that products and services involving cryptoassets are subject to the same regulatory framework as traditional products and services. The underlying rationale is ‘same risk, same rules’. Whether and to what extent financial services regulation and securities laws apply depends primarily on the actual product features and business model.
Business models involving cryptoassets may be subject to licensing requirements and are governed by:
the Banking Act – for example, if funds are raised for investment into cryptoassets or in the case of dealing as principal or agent in cryptoassets that qualify as financial instruments under the Markets in Financial Instruments Directive (MiFID) II (2014/65/EU); ....

Payment Services , Financial Market Authority , Financial Action Task Force , Financial Action Task , Investment Fund Managers , Money Laundering Reporting Office , Banking Act , Financial Instruments Directive , Payment Services Act , Securities Supervision Act , Alternative Investment Fund Managers Act , Electronic Money Act , Fintech Contact , Capital Markets Act , European Economic Area , Austria Advertising , Alternative Financing Act , Money Laundering Reporting Office Sanctions , Financial Markets Anti Money Laundering Act , Austrian Trade , கட்டணம் சேவைகள் , நிதி சந்தை அதிகாரம் , நிதி நடவடிக்கை பணி படை , நிதி நடவடிக்கை பணி , முதலீடு நிதி மேலாளர்கள் , பணம் சலவை புகாரளித்தல் அலுவலகம் ,