Washington Froze and Fintech Kept Moving – Issue #620 – FinTech Weekly

AI Shrinks Firms - Issue #617 - FinTech Weekly


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FinTech Weekly – Clarity in FinTech

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Washington froze due to the Save Act — apparently nothing to do with the fintech industry. But saying nothing else will pass until one act passes means only one thing: I want to win my battle, no matter what. Every industry waiting in line heard that message loud and clear.

The fintech industry’s reaction was that of people who know they can go ahead anyway. They have the technology, the infrastructure, and the ability to build on what companies like Nvidia are already building. Legislative clarity is useful. It is not a prerequisite.

Meanwhile, banks lobby against the fintech industry in Washington while quietly building their own infrastructure around crypto. The institutions fighting the rules with one hand are laying the foundations with the other.

Nobody knows how this ends. The technology is moving faster than the politics, faster than the regulation, and faster than the lobbyists on both sides. What this week showed is that the gap between where the industry is and where Washington thinks it is keeps growing. At some point, one of them will have to catch up with the other.



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