Andreessen Horowitz Merges Fintech and Consumer Teams After Some Bets FizzleRead more

Briefing

U.S. Considers Restrictions on Ant Group, Tencent Payment Systems

By
Christopher Stern
· · Source: Bloomberg

The Trump administration may place restrictions on payment platforms operated by Jack Ma’s Ant Group and Tencent Holdings over concerns that the Chinese companies are a threat to U.S. national security, Bloomberg reported. The U.S. is concerned that Chinese fintech firms could gain access to banking and personal data belonging to millions of people. The news comes as Ant Group is preparing to...

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