Big Tariff Shock Looms

Even if your company has never faced tariffs and has no direct dealings with China, Canada, or Mexico, prepare for potential impacts from the second Trump administration's tariff policies, as highlighted by PwC experts at the 2025 Tax Policy Media Breakfast.

According to Chris Desmond, PwC’s US global trade services principal, tariffs could deliver "a big shock to the operating model" for unprepared companies. However, there's substantial uncertainty around which countries will be targeted, the scale of tariffs, their implementation timeline, and even their actual imposition. Krishnan Chandrasekhar, PwC US tax leader, emphasized the role of tariffs as negotiation tools, a dynamic exemplified by the rapid escalation and de-escalation of US-Colombia tariff threats on January 26.

In this unpredictable environment, PwC recommends that business leaders engage in extensive scenario planning. Finance leaders should thoroughly understand how different tariffs could affect their "supply chain operating model down to the country, country of origin, and product," Desmond advised.

Barclays' Boondoggle: When Banking Goes TikTok Viral

This weekend, the streets turned into a scene straight out of a comedy caper as throngs of folks queued up at Barclays' ATMs, all in a bid to snag some 'free cash' thanks to a digital debacle in the bank's mobile and online services. Apparently, when Barclays' tech took an unscheduled nap, TikTok took the stage, turning a technical glitch into the latest treasure hunt!

Imagine the chaos—people frantically tapping their phones, only to realize that the real action was happening at the cold, hard, cash-dispensing machines. 

It's like the universe decided to give us a live-action version of "Monopoly: Bank Error in Your Favor, Collect £200." I bet there were some folks who thought they'd finally cracked the banking system only to find out they were just part of a viral dance with cash.

And let's not forget the poor bank employees, probably thinking, "Well, we wanted to go viral, but not like this!" It's a reminder that in the digital age, even banks aren't safe from TikTok's whimsical wrath. Here's hoping Barclays has learned that perhaps their next update should include a "No TikTok Challenges Here" patch.

Trump's Tariff Tantrum Turns Canada Into Comedy Central

Looks like Trump thought he could bully Canada with tariffs like he was shooing a goose off his golf course, but oh boy, did he pick the wrong country for his antics. After he announced his 25% tariff threat, Canadians, known for their politeness, got a bit... un-Canadian. At sports arenas, instead of the usual respectful silence during the U.S. anthem, fans decided it was time for a good old-fashioned jeer fest. Social media lit up faster than a bonfire with hashtags like #BoycottUSA, and whispers of selling off those sunny Florida getaways were heard from Vancouver to Halifax. But the real kicker? Canada's contemplating giving the U.S. auto industry such a cold shoulder it might just freeze over, threatening layoffs colder than a Winnipeg winter. And in the ultimate twist of fate, Ontario's decided to give Elon Musk's Starlink the cold boot, because apparently, even space isn't safe from this trade tiff.

My Musings: This is less a trade war and more like watching Canada turn into the lead in a satirical sketch show where Trump's the punchline. It's as if the whole nation decided, "Enough with the nice guy act; let's show them how we really feel!" The image of Canadians at sports games booing the U.S. anthem is peak comedy - I can just see the headlines, "Canadian Politeness Officially on Hiatus." And the thought of Canada essentially saying, "Okay, but we'll take your cars and your internet with us," reeks of a plot from a dystopian sitcom where the quiet neighbor becomes the king of the hill.

The potential for more retaliation is like waiting for the next episode of this bizarre reality show where Canada, in its quiet, unassuming way, might just teach Trump a lesson in international manners - or the lack thereof. Who knew tariffs could be so entertaining?

Whistleblowing in the Modern Age: Navigating Ethics, Risks, and Legal Safeguards

 

Introduction

Whistleblowing is a critical process for uncovering unethical or illegal activities within organizations, governments, or corporations. As societies and industries evolve, the need for transparency and accountability becomes more pressing. In today’s interconnected world, where corporate and governmental influence extends far beyond borders, the act of whistleblowing has taken on new significance. It is no longer merely a matter of morality or personal ethics; it has become an essential tool for promoting justice, fairness, and ethical behavior.

With the global rise in corporate scandals, fraud, corruption, and environmental violations, whistleblowers have become crucial figures in unveiling misconduct and ensuring public trust. However, the practice of whistleblowing comes with substantial risks, from professional and personal consequences to retaliation and legal threats. This article explores the ethical, legal, and pragmatic dimensions of whistleblowing, examining its evolving role in modern society and its impact across various sectors. It also provides insights into how organizations can foster a whistleblowing culture while adhering to new regulations designed to protect whistleblowers.

What is Whistleblowing?

Whistleblowing is defined as the act of reporting illegal or unethical activities within an organization or by its members to internal or external authorities. It can involve various types of misconduct, such as fraud, corruption, financial malfeasance, workplace harassment, environmental violations, or public safety threats. Whistleblowers often raise concerns because they believe the misconduct undermines public trust or harms others. Their actions aim to expose wrongdoing, protect the public interest, and prompt corrective measures.

Definition and Origins of the Concept

The term "whistleblowing" derives from the historical practice of using a whistle to alert people to danger or wrongdoing. Early whistleblowers included police officers, referees, and lifeguards who used whistles to signal violations or emergencies. Over time, the term expanded beyond physical signaling to describe individuals who bring attention to internal wrongdoing in organizations.

Historically, whistleblowing gained prominence in the mid-20th century with notable cases such as Daniel Ellsberg's leak of the Pentagon Papers, which exposed the U.S. government's deception regarding the Vietnam War. Since then, whistleblowing has become recognized as a fundamental mechanism for ensuring transparency and accountability, particularly in government, corporate, and organizational settings.

Types of Whistleblowing: Internal vs. External

Whistleblowing can be classified into two primary types: internal and external.

• Internal Whistleblowing: This occurs when an employee or insider reports misconduct through internal channels such as management, HR departments, or compliance officers. It allows an organization to address issues privately and resolve them internally. However, the risk of retaliation or career damage remains, even with legal protections.

• External Whistleblowing: This involves reporting misconduct to external authorities, such as regulatory bodies, law enforcement, or the media. It is often the last resort for whistleblowers when they believe internal reporting would be ineffective or when the issue is too significant to ignore. While it can lead to significant changes, external whistleblowing also carries risks of retaliation, legal consequences, and reputational harm.

Whistleblowing in the Context of Corporate, Governmental, and Organizational Settings

Whistleblowing is relevant across various sectors, each with its own set of challenges and importance. The practice can have different implications depending on the environment—corporate, governmental, or organizational.

• Corporate Whistleblowing: In the corporate world, whistleblowing often involves reporting fraud, corruption, safety violations, or financial misreporting. For example, employees might expose illegal accounting practices or unethical marketing tactics. Corporate whistleblowers can have a significant impact by uncovering corporate scandals, as seen in major cases like the Enron scandal, which ultimately led to the enactment of the Sarbanes-Oxley Act in the U.S. This act set a precedent for stricter regulations around financial transparency and corporate governance.

• Governmental Whistleblowing: Government employees, particularly in intelligence, law enforcement, or public service sectors, may expose unethical or illegal conduct that harms the public. In the case of governmental whistleblowers, the implications can be profound, as their disclosures may concern national security, public health, or legal accountability. Notable examples of governmental whistleblowing include Edward Snowden’s revelations about the National Security Agency's surveillance programs and Chelsea Manning's leak of classified military documents. These cases have led to significant debates about the balance between national security and individual rights.

• Organizational Whistleblowing: In non-corporate or nonprofit organizations, whistleblowing may focus on issues such as exploitation, unsafe working conditions, discrimination, or unethical practices in service delivery. Such disclosures can prompt organizational reforms, better employee protections, and more transparent operations.

Is Whistleblowing Ethical?

The ethics of whistleblowing are often debated, as they balance individual rights, corporate loyalty, and social responsibility. Whistleblowers typically justify their actions on the basis that exposing wrongdoing is a moral imperative that protects the public interest. However, ethical dilemmas can arise when an employee is torn between loyalty to their employer and the greater good.

Moral and Ethical Considerations

From a moral standpoint, whistleblowing is often seen as an act of courage, as it involves exposing wrongdoing despite potential personal and professional risks. The ethical rationale for whistleblowing is grounded in the notion of justice—whistleblowers act to rectify situations that harm others, undermine trust, or violate laws and regulations.

However, questions arise regarding the ethical obligations of employees within organizations. For example, is it ethically right to expose corporate secrets that could harm the organization, or is it better to resolve the issue internally without external disclosure? In some cases, employees may also face accusations of betraying the trust of their employers, which complicates the ethical assessment.

Pros and Cons of Whistleblowing

Whistleblowing can lead to both positive and negative outcomes for the individual, the organization, and society at large.

Pros of Whistleblowing

1. Promotes Accountability: Whistleblowers help ensure that organizations and governments are held accountable for their actions, which can result in necessary changes, legal actions, or reforms.

2. Public Safety: Exposing unsafe practices or unethical actions can protect consumers, employees, or the public from harm.

3. Prevention of Larger Scandals: Many whistleblowing cases prevent larger scandals by addressing misconduct before it escalates.

4. Supports Ethical Culture: Encourages organizations to develop more transparent policies and internal systems for identifying and addressing issues early.

Cons of Whistleblowing

1. Retaliation and Career Damage: Whistleblowers often face professional or personal retaliation, including job loss, damaged reputations, or career setbacks.

2. Legal Consequences: Whistleblowers may face legal action if they violate confidentiality agreements or non-disclosure clauses, even if they are acting in the public interest.

3. Emotional and Psychological Stress: The process of whistleblowing can lead to emotional and psychological tolls, including anxiety, depression, or isolation.

4. Impact on the Organization: Public revelations of wrongdoing can damage an organization's reputation and result in financial losses, legal costs, and employee turnover.

What are the Dangers of Whistleblowing?

Despite its potential benefits, whistleblowing comes with significant dangers, both for the individual whistleblower and the organization involved.

Retaliation and Legal Risks

The most prominent risk associated with whistleblowing is retaliation. Employees who expose misconduct can be subjected to various forms of retaliation, including dismissal, demotion, harassment, or a hostile work environment. Legal protections exist in many countries to shield whistleblowers from retaliation; however, these protections may not always be effective, and whistleblowers often face challenges in proving retaliation in court.

Social and Personal Impact

Whistleblowing can lead to social isolation and personal strain. Whistleblowers often feel ostracized by their colleagues or family members who may disagree with their decisions. The emotional toll can be profound, as whistleblowers must navigate the psychological effects of their actions.

Career Risks

Whistleblowers may find it difficult to pursue future career opportunities. Employers may be hesitant to hire individuals who have previously disclosed sensitive information, fearing the potential for similar actions in the future. Additionally, reputational damage can have long-lasting effects on career prospects.

Is Whistleblowing Disloyal?

One of the most debated questions surrounding whistleblowing is whether it constitutes disloyalty.

The Concept of Loyalty

Loyalty to an employer or organization is a common value. However, this loyalty is often tested when employees are asked to overlook illegal or unethical practices for the sake of organizational interests. The ethical conflict arises when whistleblowers must decide whether to stay loyal to the organization or the greater societal good.

Whistleblowing vs. Loyalty

Critics of whistleblowing may argue that it is a betrayal of an organization's trust and loyalty, while proponents see it as a higher form of loyalty—one that prioritizes truth, integrity, and justice. This issue highlights the complex nature of ethical decision-making in the workplace.

Whistleblowing: Ethics vs. Pragmatism

The debate between ethics and pragmatism is at the heart of whistleblowing. On the one hand, ethical principles call for honesty, integrity, and accountability. On the other hand, pragmatic considerations may emphasize the consequences of exposure, such as financial harm to the company or damage to personal reputations.

Balancing Ethical Duty with Practical Concerns

While ethics may push individuals to blow the whistle, pragmatic concerns often guide the decision-making process. Whistleblowers must weigh the potential harm to themselves, their careers, and the organization against the long-term benefits of revealing the truth.

The Role of Organizational Culture

A supportive organizational culture plays a crucial role in balancing ethics and pragmatism. Organizations that foster transparency, ethical behavior, and open communication are more likely to handle whistleblowing in a way that aligns with both ethical principles and pragmatic considerations.

Whistleblowing and the Law

Whistleblowers face significant legal considerations, particularly regarding confidentiality, non-disclosure agreements, and protection from retaliation.

Legal Protections for Whistleblowers

In response to the growing importance of whistleblowing, many countries have enacted legislation to protect whistleblowers from retaliation. The EU Whistleblower Directive (2019) provides comprehensive protections for whistleblowers within the EU, mandating that organizations establish secure and confidential reporting mechanisms. Similarly, the U.S. has laws such as the Whistleblower Protection Act and Dodd-Frank Act that offer legal safeguards for whistleblowers in the corporate and governmental sectors.

Challenges in Legal Protection

Despite these laws, whistleblowers still face legal hurdles. Many legal protections are not comprehensive, and whistleblowers may struggle to obtain justice if they experience retaliation. Legal costs and the burden of proof can be significant obstacles, making the process of pursuing legal action challenging.

Conclusion

Whistleblowing remains a cornerstone of modern ethical accountability, crucial for exposing wrongdoing, preventing larger scandals, and promoting transparency across industries. However, the act of whistleblowing comes with substantial risks and dilemmas that must be navigated carefully. For organizations, creating a robust, supportive whistleblowing program is essential not only for complying with evolving regulations but also for fostering an ethical culture where employees feel safe to report misconduct.

As new legislation, like the EU’s AI Act and broader updates to the Whistleblower Directive, come into effect, businesses must adapt their whistleblowing strategies to comply with these requirements while protecting those who speak out. By ensuring clear policies, training, and safe reporting channels, organizations can mitigate the risks associated with whistleblowing and reinforce their commitment to transparency and integrity.

Ultimately, the future of whistleblowing hinges on balancing ethics, legal frameworks, and the protection of individuals who act in the public’s best interest. In a world where corporate and governmental oversight is critical, whistleblowing plays an essential role in holding powerful entities accountable and shaping the future of ethical conduct.

c

UK Government Unveils National Payments Vision

 

The UK Government has published its National Payments Vision, an initiative spearheaded by the Chancellor to streamline and modernize the payments landscape. Below is a summary of its key points, structured for clarity and analysis.

1. Regulatory Coordination Between the FCA and PSR

Currently, payments oversight is shared between the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR). The consultation process revealed significant overlap and a lack of coordination between these regulators. To address this, the FCA will assume primary responsibility for regulatory decisions that fall within its scope, including areas that intersect with the PSR’s mandate.

2. Modernizing Payments Infrastructure

The report highlighted inefficiencies in the pace of infrastructure upgrades within the payments sector. To accelerate reform, a new committee will replace the existing structure, which heavily relied on banking and consultancy representatives. This change aims to deliver faster, more streamlined improvements to the payments ecosystem.

3. Focus on Open Banking and Fraud

• Open Banking: Oversight of Open Banking, previously managed by the Open Banking Implementation Entity (OBIE, now Open Banking Ltd), will transition to the FCA. This shift is designed to ensure stronger regulatory leadership in this evolving area.

• Fraud Prevention: The FCA will also lead fraud-related initiatives, taking over from the PSR. This decision is noteworthy given the PSR’s recent introduction of new rules targeting Authorized Push Payment (APP) fraud. Effective October 7, 2024, these rules mandate reimbursement for APP fraud victims, although the maximum compensation amount was controversially reduced from an initial proposal of £415,000 to £85,000 to align with the Financial Services Compensation Scheme (FSCS).

This consolidation of regulatory responsibilities under the FCA raises questions about the PSR’s future role in the payments sector.

4. Digital Identity Developments

The vision includes provisions for digital identity, reflecting discussions in prior policy papers. The Government has committed to introducing measures to establish a statutory basis for digital verification services. However, it emphasized that these measures will not create a mandatory digital identity system.

5. Digital Currencies

As expected, digital currencies feature in the vision. However, the Government’s approach remains exploratory, relying on committees and working groups to investigate possibilities without committing to specific actions or decisions.

6. National Payments Vision and Strategy Committee

To implement the National Payments Vision and Strategy (NPVS), the Government will form a dedicated committee. Details on the composition and leadership of this committee remain unclear, leaving stakeholders uncertain about its direction and influence.

Observations

While the National Payments Vision addresses critical areas such as regulatory efficiency, infrastructure modernization, and digital innovation, it has been criticized for lacking a cohesive, actionable strategy. The reliance on committees and exploratory approaches suggests a cautious, incremental approach rather than a decisive overhaul of the payments landscape.

The consolidation of responsibilities under the FCA marks a significant shift in the regulatory framework, but the redundancy of the PSR in this context raises questions about the long-term effectiveness of dual oversight in payments.

In conclusion, while the National Payments Vision sets out an ambitious framework, its reliance on further deliberation and stakeholder input may delay tangible progress.

10 Reasons Internal Controls Break Down—and How to Fix Them

Introduction

Internal controls are foundational elements within any organization, intended to provide reasonable assurance that processes operate smoothly, risks are minimized, and objectives are achieved efficiently. Leaders depend on these controls to function as a reliable safeguard, trusting that they’re well-designed, correctly installed, and actively maintained. Yet, a recurring pattern emerges through countless audits: controls inevitably break down over time.

This breakdown can arise from various factors, including changing organizational priorities, rapid technological advancements, staff inexperience, or simple human error. Without ongoing attention and diligence, even the most robust control frameworks are vulnerable. Such failures not only expose the organization to potential risks but also create an opportunity for improvement when properly addressed. Auditors and compliance professionals are instrumental in diagnosing control breakdowns and recommending solutions to mitigate the associated risks. In this article, we explore ten common reasons for control breakdowns and offer actionable steps that organizations can take to prevent, detect, and correct these failures.

Recognizing Common Patterns in Internal Control Failures

Understanding the patterns behind control failures is essential for any organization seeking to strengthen its control environment. While each organization’s specific circumstances will vary, there are several universal themes that frequently contribute to breakdowns:

1. Lack of Periodic Review and Updating

Issue: Many controls are designed with good intentions but become obsolete if not reviewed regularly. When organizations fail to update controls to reflect changes in operations, technology, or regulatory requirements, they become less effective and can even introduce new risks.

Solution: Regularly schedule control reviews to ensure they align with current business processes. Involving internal audit teams to assess controls’ relevancy helps keep them updated, proactive, and able to mitigate current risks.

2. Inadequate Training and Awareness

Issue: Controls are often neglected or circumvented because employees don’t fully understand their purpose or the importance of adhering to them. This is particularly common in organizations with high turnover, where new employees might not receive adequate training on control requirements.

Solution: Invest in regular training programs that highlight the role and importance of controls. Tailor training sessions to different employee levels and incorporate them into onboarding to establish a culture of compliance from day one.

3. Human Error and Fatigue

Issue: Even the most conscientious employees are prone to mistakes, especially under conditions of stress or fatigue. Over time, repetitive tasks can lead to lapses in attention, increasing the risk of error.

Solution: Use automation for repetitive tasks to reduce reliance on manual processes where feasible. For controls that must remain manual, encourage periodic breaks and rotate tasks among team members to reduce fatigue-related errors.

4. Poor Documentation and Communication

Issue: Controls often break down when their documentation is either inadequate or poorly communicated. When control documentation is unclear or unavailable, employees may apply controls inconsistently or disregard them altogether.

Solution: Ensure that all controls are documented thoroughly, with clear procedures and rationales. Develop centralized documentation repositories accessible to all relevant employees and integrate communication channels that reinforce the importance of adherence.

5. Ineffective Segregation of Duties

Issue: Segregation of duties (SoD) is a core control principle, preventing conflicts of interest by dividing tasks across different personnel. Without proper SoD, there’s a higher risk of errors, fraud, or control circumvention.

Solution: Regularly review processes to verify that duties are effectively segregated. Implement automated controls where appropriate to enforce SoD in digital workflows and assign roles that prevent conflicts of interest.

6. Inconsistent Monitoring and Testing

Issue: Controls are only effective if they are monitored and tested regularly. Organizations that fail to establish consistent testing protocols are often caught off guard by control breakdowns, as they may not detect issues until a crisis occurs.

Solution: Create a structured monitoring and testing schedule. Utilize both internal and external auditors to ensure comprehensive testing, allowing for early detection of control weaknesses and gaps in real-time.

7. Over-Reliance on Technology without Adequate Oversight

Issue: While technology can significantly improve control efficacy, over-reliance on automated systems without regular oversight can lead to control gaps. System malfunctions, outdated software, and data inaccuracies can all contribute to control breakdowns if left unchecked.

Solution: Develop an oversight framework to assess technology-driven controls regularly. Assign dedicated personnel to monitor critical systems, track performance, and report issues promptly.

8. Failure to Address New Risks

Issue: As businesses evolve, so do the risks they face. Controls designed for past risks may not address emerging threats such as cyber-attacks, regulatory changes, or market disruptions.

Solution: Conduct regular risk assessments that consider new and emerging threats. Ensure that control frameworks are adaptable, and implement agile risk management practices that allow for swift response to changes in the risk environment.

9. Insufficient Staffing and Resources

Issue: Inadequate staffing often compromises control quality, as overwhelmed employees may cut corners or overlook key controls due to workload pressures. This risk is particularly prevalent in small organizations or during periods of financial constraint.
Solution: Allocate sufficient resources for control activities. If staffing constraints are inevitable, prioritize high-risk areas for control focus and consider outsourcing certain compliance activities to external professionals.

10. Weaknesses in Policy and Procedure Enforcement

Issue: Effective controls depend on policies and procedures that provide a structured approach to operations. However, when enforcement is lax or inconsistent, even well-designed policies cannot prevent control breakdowns.

Solution: Institute a compliance framework that monitors and enforces policy adherence. Establish consequences for non-compliance and reward employees who demonstrate commitment to control adherence, creating an environment where policy compliance is both expected and rewardedBuilding 

Action Suggestions and Recommendations for Improvement

Armed with a better understanding of why controls fail, organizations can take concrete steps to reduce the likelihood of breakdowns:

Create an Internal Controls Committee: Form a dedicated team responsible for overseeing controls and conducting periodic reviews, with authority to suggest and implement updates.


Use Data Analytics for Control Testing: Employ data analytics to enhance the monitoring process. Advanced data analysis can identify unusual patterns or deviations, providing early warnings of control failures.


Develop a Strong Culture of Accountability: A compliance culture is most effective when reinforced by strong leadership. Encourage leaders to exemplify adherence to controls and visibly support enforcement policies.


Incorporate Flexibility into Control Design: Controls should not be static; design them to accommodate evolving business needs and risks. Flexibility helps prevent breakdowns when organizational changes arise.


Invest in Robust Internal Audit Programs: Auditors are essential in providing an objective perspective on control effectiveness. Empower internal audit functions with adequate resources to perform in-depth evaluations and offer practical recommendations.

Conclusion

While control breakdowns are a reality for most organizations, understanding the root causes allows leaders to take proactive steps to address and prevent them. Regular reviews, comprehensive training, and ongoing risk assessment are essential to maintaining a resilient internal control environment. Additionally, fostering a culture of accountability and ensuring that control frameworks are both adaptable and well-resourced can significantly reduce the risk of control failures.

By implementing these strategies, organizations not only strengthen their control environment but also improve overall operational resilience. This approach not only minimizes risk but also creates an environment where employees understand and value the role of controls in achieving strategic goals. As a result, controls become not just a safeguard but an asset—empowering the organization to adapt to challenges and succeed in a constantly changing world.

How will Donald Trump’s victory affect banks, fintech, and tech?

An analysis of reactions of banking, fintech and tech leaders to the re-election of Donald Trump, tends to focus on the potential impacts across various sectors including finance, climate policy, banking, technology, fintech, and cryptocurrency. Here's a breakdown by key subject areas:

Economy and Markets: Analysts predict that Trump’s policies will focus on expanding U.S. fiscal policy, reducing regulation, and promoting aggressive trade tactics. Daniel Casali of Evelyn Partners notes the likelihood of tax cuts, which could benefit equities and drive growth. However, others warn that this economic boost may come with long-term global consequences.


Climate Policy: The administration’s stance is expected to be less focused on climate initiatives, echoing Trump’s first term, which could stall global climate progress unless other nations take up the slack. Garry White of Charles Stanley anticipates fewer regulations on fossil fuels and a decrease in subsidies for green investments, prioritizing domestic economic growth over environmental goals.


Banking Sector: Trump’s deregulation agenda could create a "boom" for banking, according to Wells Fargo’s Mike Mayo. Reduced regulatory oversight could improve banks' profitability, especially for major players like Citi, as it may lower compliance costs, increase lending, and bolster investment banking revenues.


Technology Sector: Many major tech figures, including Peter Thiel, back Trump due to anticipated tax cuts. Trump's policies may continue to favor big tech, reducing corporate tax rates further to stimulate tech-driven growth, though concerns about fiscal deficits might moderate the extent of these cuts.


Fintech Industry: Trump’s administration may ease regulatory requirements, which could allow more neobanks and new players to enter the market, as highlighted by DECTA’s Scott Dawson. While this could increase competition, there are concerns it may attract low-quality entrants, leading to a “race to the bottom” in fintech standards.


Cryptocurrency: Trump’s presidency is viewed as highly favorable for cryptocurrency. His connections with influential tech figures, like Elon Musk and Peter Thiel, signal strong support for crypto, with bitcoin recently surging to a record high. Proponents, like Nigel Green from deVere Group, believe Trump’s backing could drive institutional investment and mainstream adoption of crypto. However, data from Zellix reveals that pro-crypto sentiment is also high in states voting Democrat.

In summary, Trump’s election brings expectations of economic expansion through tax cuts and deregulation, benefiting traditional finance, banking, and tech sectors. Yet, it may also increase volatility, environmental setbacks, and raise questions about fintech regulation and crypto investment pathways.