Fintech Is Booming, While Posing New National Security Risks for the U.S.

A cryptocurrency mining center in the Leningrad region of Russia, Aug. 20, 2018 (Photo by Alexei Danichev for Sputnik via AP).
A cryptocurrency mining center in the Leningrad region of Russia, Aug. 20, 2018 (Photo by Alexei Danichev for Sputnik via AP).

New financial technology—so-called fintech—has rapidly become an important part of the financial industry, from mobile payment systems to cryptocurrencies. But it also represents a new area of national security vulnerability for the United States. The U.S. is a leader in fintech investment and development for now, but other countries are quickly catching up in key areas. U.S. policymakers should act to improve fintech regulations and coordinate a strategy in order to ensure that this kind of technology remains a strength, rather than a vulnerability, for the U.S. There has been a huge investment boom in fintech in recent years, with […]

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