Full Description
Taft Stettinius & Hollister LLP takes pride in delivering the 2025 Edition of Global Legal Insights - Fintech.
As Contributing Editors, we are committed to providing analysis and perspectives that will assist
traditional financial institutions and innovative fintech firms in understanding the complex regulatory
environment they face today.
Across the globe, financial services are being revolutionised at an ever-increasing rate through the use
of novel technology, enabling innovative products and services. This includes everything from peer-topeer
lending platforms that bypass traditional banking intermediaries to robo-advisors that democratise
wealth management through algorithmic portfolio optimisation. Open banking initiatives have unlocked
new possibilities for financial data portability, while embedded finance allows non-financial companies
to seamlessly integrate payment processing, lending, and insurance products directly into their customer
experiences. Blockchain and digital assets continue to represent a thriving industry segment, poised for
the potential of exponential growth with shifting regulatory headwinds.
The regulatory response across jurisdictions to this wave of innovation has been notably fragmented
and, at times, reactive. Alternative lending platforms face evolving scrutiny from consumer protection
agencies concerned about algorithmic bias and fair lending practices. Buy-now-pay-later services operate
in regulatory grey areas as authorities grapple with appropriate consumer disclosure requirements.
Neobanks challenge traditional banking charters while cryptocurrency exchanges navigate a patchwork
of state money transmission laws. Meanwhile, the European Union's Markets in Crypto-Assets regulation
and the UK's comprehensive digital asset framework contrast sharply with the United States' historical
enforcement-by-litigation approach, creating jurisdictional complexity for global fintech operations,
though this may be changing.
The tension between innovation velocity and regulatory deliberation across the world has created a
unique ecosystem where legal uncertainty coexists with unprecedented investment in fintech. Venture
capital continues flowing into fintech startups developing everything from quantum-resistant security
protocols to carbon credit trading platforms, even as regulatory investigations and enforcement actions
reshape competitive landscapes overnight. This environment demands not merely compliance expertise
but strategic foresight about how emerging technologies like machine learning, quantum computing, and
distributed ledger systems will intersect with evolving regulatory philosophies.
As we examine these developments across jurisdictions, one constantly emerges: the future of finance
will be determined by those who can successfully balance innovation with responsibility. The analyses
presented in this edition offers crucial insights into navigating this balance, providing practitioners with
the tools necessary to guide their clients through an era where technological possibility and regulatory
reality continue their complex negotiation.
Contents
Preface
Richard B. Levin & Bobby Wenner
Taft Stettinius & Hollister LLP
Expert Analysis Chapter
1 Stranger things have happened: The evolving regulation of staking
Richard B. Levin, Bobby Wenner, Jorge Castiblanco & Taylor Hill John
Taft Stettinius & Hollister LLP
Jurisdiction Chapters
19 Australia
Peter Reeves, Anthony Basa & Maya Ruber
Gilbert + Tobin
29 Cyprus
Christiana Aristidou & Evdokia Marcou
The Hybrid LawTech Firm empowered by Christiana Aristidou LLC
38 Denmark
Morten Schultz, Alexander Koks Andreassen, Anna de Vos-Zehngraff &
Kasper Lausten
Bruun & Hjejle Advokatpartnerselskab
48 France
Anne Maréchal & Julie Bader
De Gaulle Fleurance
56 Germany
Dr. Susanne Grohé, Kemal Ahmedi & Frank Fischer
Annerton Rechtsanwaltsgesellschaft mbH
64 Hong Kong
Machiuanna Chu, Isabella Wong, Ian Liu & Chris Wong
Deacons
75 Hungary
Dr. Márton Kovács, Dr. Bálint Juhász & Dr. András Zsirai
Moore Legal Kovács
84 India
Rohan Bagai, Navdeep Baidwan, Subham Das & Adishree Singh
AZB & Partners
98 Indonesia
Elsie Hakim, Kevin Sidharta, Giffy Pardede & Aris Budi Prasetiyo
AGI Legal
112 Italy
Massimo Donna & Nicola Louise Jenvey
Paradigma - Law & Strategy
121 Japan
Keisuke Hatano, Satomi Umezu, Shimpei Nohara & Tomoaki Katayama
Anderson Mori & Tomotsune
132 Netherlands
Willem Röell & Eva Kempenaar
De Roos Coöperatief U.A.
140 Nigeria
Ebimobowei Jikenghan, Chioma Egboh-Nwachukwu, Iyanuoluwa Adeyemo &
Victoria Akingbemila
G. Elias
154 Philippines
Joselito M. Bautista, Christopher Louie D. Ocampo, Dan Bernard S. Sabilala &
Enrique F. Nitura
ACCRALAW
164 Poland
Karol Rajewski, Marek Wędrychowski, Joanna Chmielewska &
Marta Stępniewska
SSW Spaczynski, Szczepaniak, Wickel, Gożdziowska sp. k.
177 Singapore
Lim Chong Kin & Benjamin Gaw
Drew & Napier LLC
196 Spain
Alfonso López-Ibor Aliño, Olivia López-Ibor Jaume, Santiago Alsina Gil &
Victoria Moreno Motilva
López-Ibor DPM
211 Switzerland
Dr. Alexander Vogel, Dr. Reto Luthiger & Diana Lafita
MLL Legal AG
226 Taiwan
Robin Chang & Eddie Hsiung
Lee and Li, Attorneys-at-Law
235 Türkiye
Gökhan Uğur Bağcı, Alper Onar, Ömer Büyüktosun & Nihan Kul
BBO Legal
247 United Kingdom
David Brennan, Sushil Kuner & Samantha Holland
Gowling WLG (UK) LLP
265 USA
Justine M. Clark
Moses & Singer LLP
