Commission Action Plan on FinTech

The European Commission has issued an Action Plan for FinTech. The Action Plan is part of the Commission’s efforts to build a Capital Markets Union and has three main objectives: to support innovative business models to scale up across the Single Market; to encourage the uptake of new technologies in the financial sector; and to increase cybersecurity and the integrity of the financial system. The Action Plan sets out 23 steps to enable innovative business models to scale-up, support the uptake of new technologies, increase cyber-security and the integrity of the financial system. This will include the Commission: hosting an EU FinTech laboratory from Q2 2018 where European and national authorities will engage with tech providers in a neutral, non-commercial space; inviting the European Supervisory Authorities, by Q1 2019, to map current authorising and licensing approaches for innovative FinTech business models; reporting on the challenges and opportunities of crypto…

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