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Bitcoin, GameStop, robos: Update on fintech reg

Bitcoin, GameStop, robos: Update on fintech reg Given the events so far this year, regulation of these topics is likely top of mind for policymakers under Biden, according to experts. March 15, 2021 4 MINS As fintech innovation moves at an accelerated pace after a year of pandemic-driven lockdowns, regulators are, per usual, catching up.  Regulation of these expanding areas in fintech will determine a lot about the future of wealth management and advisers, a panel of experts said during an “Every time there’s a new technology, regulators have to come up with a new regulation on how to regulate that technology,” said Lilya Tessler, partner at Sidley Austin. “By the time the regulation gets proposed, goes through a comment period and is adopted by firms, it’s stale and the technology’s moved on to another iteration.”

Trump s Executive Orders Saved American Businesses $160bn, Biden Killed Them All

The executive order for the regulatory budget was signed in 2017 and included a “one in, two out” rule for new regulations, meaning one must be repealed for every one passed. “The American Action Forum’s report also estimated that the Trump administration added an average of $10 billion annually in regulatory costs, compared with an annual average of $111 billion during President Obama’s eight years in office,” The Times reported. © press If Biden increases regulatory up to former President Barack Obama s levels, it will be more than a 1,000 percent increase The numbers reflect more than a 90 percent decrease in regulatory costs.

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