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UK Financial Authority Creates Global Alliance for Fintech Innovation Collaboration

The UK Financial Conduct Authority (FCA) has announced the creation of a global initiative to improve collaboration on fintech innovations — like blockchain — between regulators and companies, according to an official August 7 press release.

The FCA states that the new alliance, the Global Financial Innovation Network (GFIN), will work in collaboration with 11 financial authorities and related organizations in order to help fintech firms interact more easily with regulators from different countries.

According to the press release, GFIN aims to consult on topics such as the growth of technologies like distributed ledger tech and artificial intelligence (AI), as well as the regulation of securities and Initial Coin Offerings (ICO), among others.

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