Fintech In Canada

Claudia Sandei et al. eds. 'Research Handbook on the Law of Fintech', Digital Innovation and Technology Law Lab, Digital Law Network, University of Padova, Italy (2020 Forthcoming)

15 Pages Posted: 30 Dec 2019

See all articles by Ryan Clements

Ryan Clements

University of Calgary Faculty of Law

Date Written: December 8, 2019

Abstract

Canada has a stable financial system with large national banks that integrate fintech internally to improve operations, products and service. Because of the size and stability of its major banks, Canada has been criticized as lagging globally in consumer fintech adoption rates and fostering new fintech market entrants. The supervisory frameworks for non-bank fintech firms in Canada has some agency fragmentation costs, which can serve as a barrier to entry for new firms. The following report outlines the law of fintech, as it applies in Canada, including the regulatory frameworks for fintech money (e-money, virtual currency and electronic payments); fintech financings (initial coin offerings, peer to peer lending and invoice trading); and fintech financial services (smart contract investing, robo-advisors, algorithmic trading and market automation, artificial intelligence, decentralized autonomous organizations, and crypto hedge funds).

Keywords: fintech, fintech regulation, financial technology, cryptocurrency, bitcoin, fintech credit, marketplace lending, robo-advisor, open banking, ICOs

JEL Classification: K22

Suggested Citation

Clements, Ryan, Fintech In Canada (December 8, 2019). Claudia Sandei et al. eds. 'Research Handbook on the Law of Fintech', Digital Innovation and Technology Law Lab, Digital Law Network, University of Padova, Italy (2020 Forthcoming), Available at SSRN: https://ssrn.com/abstract=3500597

Ryan Clements (Contact Author)

University of Calgary Faculty of Law ( email )

Murray Fraser Hall
2500 University Dr. N.W.
Calgary, Alberta T2N 1N4
Canada
4036191173 (Phone)

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