EU Commission to Propose Measures to Boost Fintech

Reuters revealed this week that it has seen a document which details plans of the European Commision to draft a law on crowdfunding and blockchain technology to boost its financial technology sector.

It is said that the departure of Britain, which is a major fintech hub, has prompted Brussels to think up measures to cultivate fintech in the EU.

The plans, which could be published as early as this week, will include proposals for a bloc-wide licensing system for crowdfunding platforms and the forging of common standards for blockchain technology which are likely to be used in payment and securities trading services.

Source: Reuters

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