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EU Securities Regulator Flags Risks of Big Tech's Entry Into Financial Services

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The European Union’s securities regulator has put out a report warning of risks of Big Tech’s entrance into finance.

“The high level of market concentration typically observed in BigTech may get carried into financial services, with potentially adverse impacts on consumer prices and financial stability,” the European Securities and Markets Authority, or ESMA, said of Big Tech companies entering finance, as part of its 2020 Trends, Risks and Vulnerabilities report released on Feb. 19.

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Source: Cryptocurrency - investing.com

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