Brazil’s securities regulator, the CVM, has launched a study into the country’s flourishing financial technology (fintech) industry, raising the prospect of new regulations that could impede the sector’s growth.
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Sergio Furio, |
The CVM announced its initiative at the end of August and stressed that new technologies that bring efficiencies to the sector “should be supported and encouraged” but the report will also be the precursor for new regulations, potentially weakening one of the competitive advantages that fintech presently enjoys.
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