A Regulatory Sandbox

The regulator of federally chartered banks also said it would start accepting applications from fintech firms “effective immediately,” opening the door for those firms to receive charters that allow them to operate without acquiring licenses in every state.

Many of the Treasury’s roughly 80 recommendations require additional action from regulators or Congress to bring to reality.

Let’s see if Congress can act.  I am glad this isn’t an executive order.  No doubt, many from both parties will have concerns and also their pets that they want to protect.  But, there is a tidal wave of innovation happening and when it hits it will be better if Congress creates this regulatory sandbox and embraces the change rather than fight it.

There is a lot going on in the fin tech world that is making markets and transactions more efficient.  The crypto world gets all the headlines, but there is a lot more going on as well that isn’t related at all to crypto.  We are investing in it at West Loop Ventures.