News Snapshot:
A leader of the House of Representatives is pushing for the development of a thriving financial technology sector in the country as the lawmaker said more fintech firms are fleeing Hong Kong’s regulatory jitters and saturated Asian markets. House Committee on Ways and Means Chairman Joey Sarte Salceda said he filed the proposed Financial Technology Industry Development Act or House Bill 7760 as the country’s bid for “asylum-seeking†fintech companies. “Make no mistake: We are in the game for fintech investments. We have 74 million smartphone users who spend 10 hours a day on the Internet. That is one of...
