Fintech internet-based financial technology is an incipient industry and, as such, comes with a number of risks. There is virtually no regulation, and it’s not clear what types of rules the government will put in place once it does take off.
That gap, and the uncertainty around it, is coming into focus now that ecommerce behemoth Alibaba is considering listing its young affiliate, Ant Financial Services Group. The prospect of an IPO is already sending tremors through the banking world in China. Some analysts value Ant Financial $25 billion.
But lawyers and regulators are also feeling the ground shift beneath their feet given its size...
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