The Changing Landscapes of FinTech and RegTech: Why the United States Should Create a Federal Regulatory Sandbox

Michael Piri*


This Note introduces the FinTech industry’s emergence and its subsequent birth to the closely-related RegTech industry. After analyzing the disruptive force powering both industries, and proving each of their anticipated longevities in our economic system, this Note discusses the lack of legislative clarity undermining the future of the industries in the United States. This Note then evaluates the effectiveness of the newly popular regulatory sandboxes being implemented in jurisdictions across the globe. After describing state regulatory sandbox developments, this Note will describe why the United States legislature should adopt a federal regulatory sandbox to accommodate the changing FinTech and RegTech landscapes underlying the financial services industry.

* J.D. Candidate, (The George Washington University Law School, 2019); M.B.A., (St. John’s University, 2016), B.S., (St. John’s University, 2015). The author would like to thank Professor Walter E. Zalenski (Partner – Buckley Sandler LLP) for his invaluable guidance throughout this process as well as the BFLR Boards of 2017 & 2018.