French Regulator Eyes Tech Giants' Impact On Digital Banking
Law360, London (May 20, 2020, 6:04 PM BST) -- France's antitrust watchdog announced plans Wednesday to scrutinize the fintech industry and said it will be looking into what impact tech giants including Apple and Google are having on digital payments.
The Autorité de la concurrence is seeking feedback from the industry as well as the public on how markets have evolved, the power of different companies and possible competition concerns. The watchdog is also interested in developments of cloud and blockchain technology, and e-wallets and crypto-assets.
The competition authority wants to hear views on banks responding to the challenge of digital disruption through acquisition, and thoughts on digital companies expanding into the financial services...
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