The US and British authorities collaborate on fintech regulation

Tuesday 20 February 2018 10:53 CET | News

The United States’ CFTC has teamed up with the United Kingdom’s FCA to collaborate on a framework for financial technology (fintech) innovation and regulation.

Both the Commodity Futures Trading Commission and the Financial Conduct Authority have created in-house bodies dedicated to fintech initiatives, namely LabCFTC and FCA Innovate. Their new agreement commits the two fintech initiatives to collaborating and supporting each other. In October of 2017 LabCFTC published its primer on digital currencies.

The Cooperation Arrangement between the two regulatory bodies focuses on sharing information regarding market trends and developments. The arrangement will also work to facilitate fintech companies interested in entering the other’s market. Furthermore, the FCA and CFTC plan to host a joint event in London to demonstrate how companies can engage with regulators.

Compared to recent negative news regarding extreme regulatory policies in development by some countries across the globe, many see this shift as refreshing, according to Discover. China, for example, seems to want a complete crack-down on digital currencies and Bitcoin mining.

However, the collaboration between the CFTC and FCA may lead to new ways to encourage growth while developing ways to protect investors.

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Keywords: CFTC, FCA, US, UK, fintech, regulation, collaboration, digital currency, blockchain
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
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Securing Transactions


Securing Transactions