Fintech & Payments — 2026年8月2日 月次レポート

The MiCA transitional period formally ended on 2026-07-01. ESMA issued wind-down guidance for unauthorized CASPs on 2026-07-01 and 2026-07-03, formalized investor protection requirements for the wind-down process, and launched a Common Supervisory Action on authorized CASPs' digital operational resilience for custody on 2026-07-08. By month-end, both tracks remained active standing obligations with no superseding guidance. [2]

On 2026-07-14, the CFTC exercised emergency authority to stay a rule change by KalshiEX, LLC. On 2026-07-24, the CFTC issued a no-action letter to Kraken Derivatives and released an advisory on self-certification of event contract series — illustrating a differentiated, firm-specific regulatory approach to crypto and event contract market participants. [1]

On 2026-07-13, the CFTC approved a final rule amending margin requirements for uncleared swaps for swap dealers. On 2026-07-17, the CFTC issued a final order sunsetting routine large trader position-reporting requirements under Part 20 for physical commodity swaps — a selective deregulatory action alongside simultaneous tightening in OTC derivatives. [1]

The CFTC replaced its standard futures extension comment item with a formal public input request on '24/7 Trading and Perpetual Contracts,' with the comment period closing on 2026-07-27. This followed the 2026-07-09 stay of a self-certified 24/7 crude oil futures contract and signals the CFTC is building a durable policy framework for continuous-market products. [1]

On 2026-07-07, the Federal Reserve Board published a proposal to amend its requirements for banks to maintain anti-money laundering programs — a new U.S. regulatory development with direct implications for fintech firms operating under bank partnerships or charters. [3]

The OCC's June 2026 Notice of Proposed Rulemaking on AML/CFT and sanctions compliance under the GENIUS Act remained in active public comment throughout July. On 2026-07-09, the OCC issued a bulletin notifying banks of FinCEN guidance on voluntary information sharing — together with the Fed's AML proposal, assembling a multi-agency layered AML compliance framework. [4]

The CFTC's June 2026 lawsuit against Kentucky to assert exclusive federal jurisdiction over CFTC-registered entities remained active and prominently featured throughout July with no resolution detected — a live jurisdictional precedent for fintech firms holding dual federal-state licenses. [1]

On 2026-07-02, the IMF released three publications on tokenization covering financial architecture, payments trends, and financial market infrastructure evolution — marking a significant escalation of multilateral analytical focus on tokenization as a systemic transformation. [5]

On 2026-07-01, the Federal Reserve issued initial findings from its 2025 triennial payments study — the primary authoritative data release on U.S. payment system volumes and trends, shaping regulatory and industry strategy for the coming years. [3]

On 2026-07-07, the European Supervisory Authorities supported an ESRB warning identifying frontier AI models as a source of systemic cyber risk to financial stability — the first joint ESA-ESRB statement framing AI as a macro-prudential concern in the EU. [2]

The FSB's consultation on sound practices for responsible AI adoption closed on 2026-07-22. The FSB also published 'Cross-Border Payments: Towards the Next Chapter' on 2026-07-08, advancing its cross-border payments reform agenda — two structural FSB workstreams with direct relevance to fintech and payments infrastructure. [6]

On 2026-07-17, the European Commission published a Communication on the competitiveness of the banking sector and the single market in banking, introducing competitiveness as an explicit EU prudential policy objective. ESMA separately published a Position Paper with 20 recommendations to strengthen EU capital markets — together signaling a coordinated EU institutional push to reposition European capital markets. [7] [2]

ESMA published its final report on simplifying EU transaction reporting, identifying up to €1 billion in potential annual savings and proposing a 'Report Once' approach — a material compliance cost reduction development for fintech and payments firms operating in EU markets. [2]

European Commission pages updated on 2026-07-24 confirmed that the new Crisis Management and Deposit Insurance framework entered into force on 2026-05-10, with BRRD III published in the Official Journal on 2026-04-20 and DGSD II (2026/804/EU) adopted on 2026-03-30 — establishing updated bail-in, resolution, and deposit protection rules as operative EU law. [8]

On 2026-07-20, ESMA called on firms to finalize preparations ahead of T+1 settlement deadlines with no further runway, and published a follow-up report on cross-border investment services supervision establishing new supervisory convergence benchmarks for passporting firms. [2]

On 2026-07-06, ESMA selected Etrading Software (Netherlands) B.V. as the Consolidated Tape Provider for OTC derivatives. On 2026-07-10, ESMA launched data collection under the first phase of the European Single Access Point (ESAP) and published the first market capitalisation data under the FASTER framework — concrete steps in the EU's centralized financial data access build-out. [2]

On 2026-07-16, the OCC and Federal Reserve jointly issued a statement establishing standards for identifying and handling highly sensitive information during bank examinations — a new interagency coordination development with direct implications for fintech firms subject to examination through banking partners or own charters. [4] [3]

On 2026-07-10, the OCC appointed a receiver for Kentland Federal Savings and Loan Association in Kentland, Indiana — the first bank failure action from the OCC in the reporting period, underscoring active OCC supervisory scrutiny of smaller institutions. [4]

On 2026-07-23, the CFTC extended the public comment period on its proposed rule on the extension of standard terms for energy derivatives, indicating substantive feedback requiring additional consideration and keeping this rulemaking in active consultation. [1]

The CFPB's June 2026 joint final rule adopting uniform standards for reporting financial data remained the agency's most recent substantive output throughout July, with no new CFPB rulemaking or enforcement actions detected — establishing a standing compliance baseline for U.S. consumer fintech firms. [9]