news 1 month ago

Watchdogs Warn Of Big Tech's 'Tentacles' Creeping Into Financial Services

Wochit Postables
“Big Tech” companies may have to share data on financial services customers with banks and fintech firms to prevent unfair competition. Reuters reports Facebook’s plan for its Libra “stablecoin” cryptocurrency is facing intense scrutiny. Meanwhile, a global body of financial regulators said that Big Tech’s growing tentacles raised questions for financial stability, competition and data privacy.