The new fintech regulatory sandbox will look into activities of individual microlending while developing new alternatives for the traditional credit scores.
The European Central Bank plans to create licensing guidelines for financial technology firms.
The new fintech body is aimed at improving financial research, coordination and planning, China’s central bank announced on its website on Monday.
The Federal Council of the country initiated the consultation on amendments to the Banking Act and Banking Ordinance in the fintech area.
Сhartering financial technology companies that offer bank products and services is connected with increased interest and inflow of investments in the sphere.
On Wednesday, Swiss finance minister, Ueli Maurer, unveiled the government’s project to drive innovation in the country by easing regulation for fintech startups.