Regulating Fintech in Canada and the United States: Comparison, Challenges and Opportunities

The School of Public Policy Publications Volume 12:23 August 2019

45 Pages Posted: 13 Aug 2019

See all articles by Ryan Clements

Ryan Clements

University of Calgary Faculty of Law

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Date Written: August 9, 2019

Abstract

The rise of fintech has attracted increased attention from investors, entrepreneurs, existing financial-sector participants and regulators. Fintech has many potential benefits and it could transform banking, lending, payments, investing and other financial services through the internet, smartphones, artificial intelligence, blockchain and cryptocurrencies, and many other current and future digital technologies. Such benefits include lower costs, an enhanced scope of products and services, and the possibility of reaching and offering previously underserved customers greater credit and financial services. Policy makers in Canada and the U.S. should encourage these positive developments, foster innovation and competition, and reduce barriers to entry, while ensuring adequate safeguards are established for the stability of the financial system and necessary consumer protections are in place.

Keywords: fintech, financial regulation, cryptocurrency

Suggested Citation

Clements, Ryan, Regulating Fintech in Canada and the United States: Comparison, Challenges and Opportunities (August 9, 2019). The School of Public Policy Publications Volume 12:23 August 2019, Available at SSRN: https://ssrn.com/abstract=3435281

Ryan Clements (Contact Author)

University of Calgary Faculty of Law ( email )

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