With 59 regulatory deadlines falling across the payments landscape this month alone — 33 consultation periods closing and 20 pieces of legislation entering into force — May 2026 represents one of the more demanding compliance windows of the year.
According to Vixio, drawing on data from the Horizon Scanning Regulatory Deadlines Calendar, here are the key developments that payments professionals need to be tracking across five jurisdictions.
This recent review was part of a recent post by Vixio detailing payments regulatory deadlines to watch in May 2026.
Belarus tightens the framework on illicit payment flows
A presidential decree issued in November 2025 substantially broadens Belarus’s existing regime against unauthorised payment transactions. Decree No. 394 amends earlier legislation to bring payment activity connected to illegal drug trafficking explicitly within scope — a notable extension that carries real operational weight for payment service providers (PSPs) operating in or through the country.
Under the revised framework, the National Bank of the Republic of Belarus is required to coordinate information-sharing between law enforcement agencies and PSPs, define reporting obligations, and establish how data flows through the ASOI system to the Investigative Committee and the Ministry of Internal Affairs. Critically, information shared through ASOI will not constitute a breach of banking secrecy, and personal data connected to flagged transactions may be processed without customer consent. Paragraph 1 of the decree enters into force on 14 May 2026, with remaining provisions already in effect.
Tanzania formalises its interbank FX market infrastructure
On 28 April 2026, the Bank of Tanzania designated eight financial institutions as Market Makers for its new Electronic Matching System (EMS) in the Interbank Foreign Exchange Market — a step designed to support liquidity, orderly conduct, and more efficient price discovery. Market Makers are obligated to post continuous two-way quotes and associated volumes throughout trading hours. All EMS participants, including commercial banks and non-bank institutions, have been notified of the appointments and are expected to factor the designation into their market operations. The system officially went live on 18 May 2026.
Vietnam raises the stakes on competition enforcement
A decree issued by the Vietnamese government on 2 April 2026 introduces a more muscular approach to competition law enforcement. Fines for administrative violations have been increased, particularly in cases where an enterprise recorded no revenue on the relevant market in the preceding financial year. The legislation also extends its reach to cover economic concentration cases involving enterprises operating in distinct markets or at different stages of production, distribution, or supply chains. New penalty frameworks for failure to notify economic concentration range from 500m Vietnamese dong to 2bn Vietnamese dong, depending on enterprise size and market turnover. The decree takes effect on 20 May 2026.
Ukraine sets a compliance deadline for payment institution governance
Amendments adopted by the National Bank of Ukraine in December 2025 introduce tighter governance requirements for payment institutions (PIs) and electronic money institutions (EMIs). Under the revised rules, internal auditors, chief risk managers, and chief compliance managers are prohibited from holding any other role — either within their own institution or at any other legal entity. Institutions are also required to invest in the ongoing professional development of audit personnel and to maintain comprehensive internal documentation covering audit strategy, procedures, and methodology. PIs and EMIs must develop or update their internal audit policies and bring activities into compliance by 31 May 2026.
The EU publishes its anti-corruption directive
Published in the Official Journal of the European Union on 11 May 2026, Directive (EU) 2026/1021 establishes minimum standards for tackling corruption across EU member states. It replaces the Council Framework Decision 2003/568/JHA and the earlier convention on corruption involving EU and member state officials. The directive sets out criminal offences and corresponding sanctions across a range of scenarios — including bribery in the public and private sectors, trading in influence, enrichment from corruption offences, and failures in prevention, reporting, and investigation. It enters into force on 31 May 2026, 20 days after publication.
Read the full Vixio post here.
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