Fintech Regulation Updates: Key Changes and Implications

The past year saw a surge in regulatory activity worldwide, with governments and financial institutions introducing new rules and guidelines for the fintech industry. The focus was on strengthening consumer protection, enhancing operational resilience, and providing clearer oversight of crypto assets.

In the US, the Consumer Financial Protection Bureau (CFPB) finalized its rule on digital payment apps, bringing them under federal supervision when handling over 50 million transactions annually. This move aims to improve fraud prevention, privacy controls, and consumer access to payment services.

Across the Atlantic, the European Union pushed forward with its Digital Operational Resilience Act (DORA) and Markets in Crypto-Assets (MiCA) regulations. These frameworks aim to ensure operational resilience and provide a clearer framework for crypto-asset issuance, trading, and service providers.