Tech Coalition Urges Trump to Promote FinTech Development
Financial Innovation Now (FIN) has called on President-elect Donald Trump to embrace FinTech to improve financial services for consumers and small businesses. Notably FIN, a tech coalition that includes Apple, Google, PayPal, Intuit, and Amazon, is urging Trump to appoint a Treasury Undersecretary who will be responsible for developing a national vision and coordinated strategy to ensure America wins the FinTech race. In its letter [PDF] to Trump, FIN states that the appointment of a Treasury Undersecretary would ‘work across all federal financial regulators to foster competition and....
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More than 150 startups and venture capitalists have backed a new manifesto outlining a number of recommendations for the UK's FinTech industry that include bitcoin-friendly legislation. The 'Startup Manifesto', as it is called, was published by the Coalition for a Digital Economy (Coadec) this week, and was authored by Guy Levin, the coalition's executive director. Notable investment firms backing the proposal include Index Ventures, King and Seedcamp. Coadec is sponsored by Google, Intuit, TechHub and iHorizon. FinTech recommendations. The document urges the British government to enact a....
Industry associations from Hungary and Thailand plan to cooperate on implementing blockchain technologies in the financial services sector. The two sides hope to share experience and produce ideas for alternative services as part of their new partnership. Thailand and Hungary Announce Blockchain Pact During Bilateral Fintech Forum The Thai Fintech Association and Hungary’s Blockchain Coalition have signed a Memorandum of Understanding to support the introduction of new technologies to their financial markets. The agreement was inked during the first edition of the “Thai-Hungarian Fintech....
The next president, Donald J. Trump, has a lot on his plate over the next four years. He is still three weeks away from officially becoming the President-elect, and then another month away from becoming the 45th President of the United States. He is receiving advice from every corner of the country, even the globe, and he has a lot of important decisions to make. Might one be creating a regulator for the emerging FinTech industry? Many industry leaders think so, or something along those lines. Trump receives a letter from an alliance of major tech firms. You may not have previously heard....
The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion. Yet despite this acknowledgment, the FSB still argues against the widespread adoption of stablecoins claiming they “may generate risks to financial stability, particularly if they are adopted at a significant scale.” The AML/CFT Argument In a report, the FSB says....
On February 7, 2022, a group of 17 digital asset companies revealed they formed an organization called the Crypto Market Integrity Coalition (CMIC). The well-known firms include crypto companies like Coinbase, Circle Internet Financial, Huobi Tech, Bitmex, Cryptocompare, and Solidus Labs. The newly formed group says the coalition is “committed to a safe and sensibly-regulated crypto industry.”
Leading Digital Asset Firms Launch a Crypto Market Integrity Coalition
17 crypto companies and organizations have announced the launch of an advocacy group called the Crypto....