US Needs Federal Sandbox to Catch Up with EU FinTech Innovation

While the FinTech market is booming around the world, the United States has fallen behind when it comes to both consumer adoption and the regulation needed to boost innovation. European regulators have worked hard to create an environment that promotes growth in the FinTech sector while still protecting consumers. The United Kingdom’s Financial Conduct Authority (FCA), for example, has operated a regulatory sandbox since 2015, working with 70 FinTech startups and seeing 90 percent of those bringing products to market...