The UK Labour Party has pledged to support and expand the fintech sector, aiming to generate a £330 billion boost to the economy. The party plans to modernize financial regulations and invest in financial regulators to ensure they are well-resourced.
Labour's strategy includes embracing innovations such as AI, Open Banking, and securities tokenization. The Tony Blair Institute for Global Change and the Start-Up Coalition have emphasized the need for increased funding for financial regulators to maintain the sector's competitiveness and avoid stagnation.
