Chris Brummer

Fintech sector hurt by shutdown
Federal government’s influence more expansive than expected

ANALYSIS — The consequences of the partial government shutdown for the poor, the environment, federal employees and those relying on government services or benefits have become painfully evident, and are getting worse. The shutdown is also starting to create serious problems for financial technology firms — slowing dealmaking, impairing supervision and casting a pall over the presumed pre-eminence of the U.S. as a fintech superpower.

It’s coming as quite a surprise for many Silicon Valley investors and Wall Street firms that have long viewed the federal government as a drag on innovation rather than a facilitator of it.

EU reports on cryptoasset regulation could have global reverberations
Watchdogs urge EU-wide rules

 

ANALYSIS — Two leading financial regulatory authorities are preparing to release pivotal reports on cryptoasset regulation throughout the European Union with recommendations that set the stage to create a separate “bespoke” regime for cryptoassets that are not currently subject to regulation in the bloc.