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Financial services

Financial services

This is a type of service that allows one party to receive financial assets from another party in the form of a loan, bonds, insurance policies, etc.

As a rule, in all countries of the world, financial services are divided according to the types of organizations that deal with them. So, financial services include banking services, insurance, leasing, brokerage and others. At the same time, the category of microfinance services is singled out separately, which generally copy financial services, but are limited to a certain small amount. All services are regulated by law. In most cases, in order to provide financial services to the public and businesses, it is necessary to pass an exam and obtain a special permit.

Main functions
  1. Distribution - through finance, the gross domestic income is distributed and redistributed, due to which the funds are at the disposal of the state, the municipality.
  2. Control - lies in their ability to track the entire course of the distribution process, as well as the spending for the intended purpose of funds coming from the federal budget.
  3. Regulatory - state intervention in the process of reproduction through finances (taxes, government loans, etc.). The state influences the reproductive process through the financing of individual enterprises, the implementation of tax policy.
  4. Stabilizing - providing citizens with stable economic and social conditions.
  5. Fiscal - allows you to flexibly change the tax policy of the state.
  6. Stimulating - acts as incentives for the development or closure of certain industries in the economy.
Financial services and crypto industry

The crypto industry is closely related to the provision of financial services. Therefore, states around the world are actively developing their own laws to regulate them. The developed countries are trying to introduce the most stringent restrictions. For example, in South Korea, Exchange Bithumb abandon users to withdraw their assets to unverified private wallets.In Great Britain regulators imposed stricter rules for DeFi. And in USA regulator considers stricter regulations on selling crypto assets.

Timeline

Patents

Further reading

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Documentaries, videos and podcasts

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News

Title
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Zee News
August 25, 2021
Zee News
The Department of Financial Services (DFS) on Wednesday (August 25) announced that the family members of deceased bankers, who were once employed with any public sector banks (PSBs), will now receive a pension of 30% of the last drawn salary of the official.
Omar Faridi
August 11, 2021
Crowdfund Insider
Facteus joins Snowflake Partner Network to help financial services providers safely migrate sensitive data to Snowflake Data Cloud.
FinSMEs
July 14, 2021
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Livemint
July 2, 2021
mint
Sanjay is a qualified CA and CS and comes with over 26 years of rich experience across a diverse set of industries like Financial Services, Edible Commodities, and Telecom.
MemVerge
June 25, 2021
www.prnewswire.com:443
/PRNewswire/ -- MemVergeTM, the pioneers of Big Memory software, and Hazelcast, the fast cloud application platform, today announced a development and marketing...
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References

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