The White House FinTech Summit has finally published a whitepaper, A Framework for FinTech<\/i>, on this Friday, January 13th, 2017, aiming to develop a policy framework for regulating the FinTech ecosystem and to encourage public-private collaboration in the FinTech industry.<\/p>\n
This is the first time the U.S. government, engaged with stakeholders across the country, published its regulation principles in the industry. The Framework<\/i> including 10 principles that encourage stakeholders to:<\/p>\n
\u201c1. think broadly about the financial ecosystem;<\/em><\/p>\n 2. start with the consumer in mind;<\/em><\/p>\n 3. promote safe financial inclusion and financial health;<\/em><\/p>\n 4. recognize and overcome potential technological bias;<\/em><\/p>\n 5. maximize transparency;<\/em><\/p>\n 6. strive for interoperability and harmonize technical standards;<\/em><\/p>\n 7. build in cybersecurity, data security, and privacy protections from the start;<\/em><\/p>\n 8. increase efficiency and effectiveness in financial infrastructure;<\/em><\/p>\n 9. protect financial stability; and<\/em><\/p>\n 10. continue and strengthen cross-sector engagement.<\/em>\u201d<\/p>\n The publish of this Framework<\/i> shows that, first, the U.S. government rates highly on the rapid growing FinTech industry, and second, the government begins to make great effort in regulating the industry. The Framework<\/i> also illustrates the right approaches to ensure the promising growth of FinTech in the near future as forecasted p\u00a0by scholars and regulators.<\/p>\n Source: https:\/\/www.whitehouse.gov\/blog\/2017\/01\/13\/framework-fintech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The White House FinTech Summit has finally published a whitepaper, A Framework for FinTech, on this Friday, January 13th, 2017, aiming to develop a policy framework for regulating the FinTech ecosystem and to encourage public-private collaboration in the FinTech industry. This is the first time the U.S. government, engaged with stakeholders across the country, published … Continue reading The White House Published the First Framework for FinTech<\/span><\/a><\/p>\n","protected":false},"author":1838,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-78","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":1,"qubely_featured_image_url":null,"qubely_author":{"display_name":"xiaoge","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/xiaoge\/"},"qubely_comment":1,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"The White House FinTech Summit has finally published a whitepaper, A Framework for FinTech, on this Friday, January 13th, 2017, aiming to develop a policy framework for regulating the FinTech ecosystem and to encourage public-private collaboration in the FinTech industry. This is the first time the U.S. government, engaged with stakeholders across the country, published…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/78","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1838"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=78"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/78\/revisions"}],"predecessor-version":[{"id":79,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/78\/revisions\/79"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=78"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=78"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=78"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}