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Fintech Regulations in Europe and USA

Author

Listed:
  • Bálint Molnár

    (Eötvös Loránd University of Budapest)

  • Galena Pisoni

    (York Business School, York St John University)

  • Hanna Kristín Skaftadóttir

    (Bifröst University)

  • Szabolcs Korba

    (Eötvös Loránd University of Budapest)

Abstract

The rapid evolution of financial technology (fintech) has significantly transformed the global financial ecosystem, necessitating responsive and forward-thinking regulatory frameworks. This paper provides a comparative analysis of fin-tech regulation in the European Union (EU) and the United States (US), highlighting their divergent approaches in fostering innovation, ensuring consumer protection, and addressing emerging technological and financial risks. While the EU employs a harmonized and prescriptive regulatory model exemplified by the Revised Payment Services DirectiveRevised Payment Services Directive (PSD2), General Data Protection RegulationGeneral Data Protection Regulation (GDPR), and Digital Operational Resilience ActDigital Operational Resilience Act (DORA), the US adopts a more fragmented, innovation-driven strategy, often resulting in regulatory inconsistencies and arbitrage opportunities. Through thematic analysis of selected studies, this paper identifies key regulatory domains, including open banking, data privacy, crypto-asset oversight, and the implementation of RegTechRegTech and SupTechSupTech solutions. It also evaluates the role of regulatory sandboxesRegulatory sandboxes and sustainability initiatives in shaping fintech policy. The findings suggest that while the EU’s structured framework enhances trust and stability, it may pose challenges to flexibility and market access, particularly for emerging sectors.

Suggested Citation

  • Bálint Molnár & Galena Pisoni & Hanna Kristín Skaftadóttir & Szabolcs Korba, 2025. "Fintech Regulations in Europe and USA," Palgrave Studies in Financial Services Technology,, Palgrave Macmillan.
    • Handle: RePEc:pal:psincp:978-3-032-03523-3_6
    DOI: 10.1007/978-3-032-03523-3_6
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