This is a preview of a research report from BI Intelligence, Business Insider’s premium research service. To learn more about BI Intelligence, click here.
Despite having one of the largest fintech industries in the world, the US is noticeably behind other regions when it comes to one factor crucial to the future growth of this burgeoning sector — regulation.
The US regulatory environment is holding back fintechs and hindering their chances of success.
A new report from BI Intelligence examines the current regulatory landscape in the US and how it’s impacting the fintech industry. In addition, it discusses the methods fintechs are using to meet regulations as best they can, and details the fintech-specific initiatives that have already been launched by regulators and their likelihood of success. It also considers the future of fintech regulation in the US and how it may shape the fintech sector long term.
Here are some of the key takeaways from the report:
The US’ regulatory system involves many different players at the federal level, as well as a regulator for each state. This complexity not only makes the US regulatory environment harder for fintechs to navigate in the first place, but it’s a major barrier to …read more
Source:: Businessinsider – Finance