fintech companies when in comparison with the regulatory framework relevant to fintech businesses in different jurisdictions. The Committee on Foreign Investment within the United States , which is charged with deciding whether takeovers of U.S. businesses by foreign companies pose a threat to nationwide safety, may show an impediment to non-U.S. fintech firms accessing U.S. customers via the acquisition of U.S. corporations. The CFPB’s “Project Catalyst” initiative aims to extend the CFPB’s outreach to and collaboration with fintech corporations in connection with the development of fintech insurance policies. At the federal level, there isn’t a regulation particularly directed at cryptocurrencies and cryptoassets. However, March 2013 steering from FinCEN explains that, relying on the character of their monetary actions, certain companies that act as exchangers or directors of cryptocurrency might fall throughout the definition of a “cash transmitter” under FinCEN regulations. Such businesses would thus be required to register with FinCEN as a “money providers business” and adjust to relevant BSA/AML necessities.

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With the exception of immigration regulation (see query 5.three under), there are few formal legal necessities or impediments to hiring or dismissing staff within the United States, which typically is an “at will” employment jurisdiction. In addition, under … Read More