Over the past decade of rapid fintech development, startups and entrepreneurs in the market have called for practical and economical regulatory frameworks that could enable financial products and services to scale with the market’s growing clientele. Still, the government and regulators globally struggle to establish regulations for new generation financial services.
The core issue behind the government’s inability to establish reasonable regulatory policies and its obscure mentality towards financial technologies is the direct effect of divided and conflicting regulations to fintech startups.
Fintech service providers and financial network developers often focus on the development of cross-country and cross-network payment models, in which users can send or receive payments to or from abroad. There are also other major fintech businesses such as digital currency trading, transaction settlement, and financial management.
For more on this story visit the following link: Regulators Struggle to Deal with Fintech and Emerging Technologies
Source: Live Bitcoin News