THE globe

NEW DELHI, India— India is seeking to use artificial intelligence to expand digital payments to rural areas.

LONDON—The U.K. government is exploring the use of open banking driven digital payments for public services. 

WASHINGTON, D.C.—The World Council of Credit Unions (WOCCU) is reporting that beginning in October it will begin implementing the new Accelerating Growth and Inclusion in Lending for Credit Unions (AGIL4CU) Project across five countries.

SEOUL, South Korea—In a move aimed at improving consumer protections, the South Korean government is requiring crypto exchanges in this country set aside a minimum of three-billion won—approximately $2.3 million—in bank accounts as a safeguard.

WASHINGTON–CUNA and the World Council of Credit Unions (WOCCU) have sent a letter related to the implementation of a Basel III proportionality framework, which is aimed at establishing a simpler and more reasonable approach for credit unions, to the House Financial Services Committee.

NEW DELHI, India–The World Council of Credit Unions (WOCCU) is expressing support for a joint declaration by leaders of the G20 that embraces a proportional approach to the newly finalized standards on sustainability and climate-related disclosures, following their recent meeting.

DUBLIN, Ireland–Ireland’s credit unions could become significantly bigger players in the mortgage market in this country with the introduction of the Credit Union (Amendment) Bill that will allow CUs to double the amount of mortgage and commercial lending they currently do

BRUSSELS, Belgium—The European Commission intends to publish a bill to underpin a digital Euro and set out its strategy on virtual worlds in May of 2024.

LONDON—Starting Oct. 1 PayPal said it will temporarily halt its cryptocurrency sales in the United Kingdom. The decision is due to the “shifting regulatory environment” in the U.K.

LONDON—The U.K.’s financial watchdog continues to maintain strict supervision of the emerging crypto industry in the country, according to a new report.