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Austria Considers Establishment of Fintech Regulatory Sandbox

The country’s Finance Minister Hartwig Loeger said that the FinTech Advisory Council — which was formed by the Ministry of Finance last year — will aid in the development of relevant rules to steer the “young financial market around digitized financial services,” including initial coin offerings (ICOs) and digital currencies to facilitate their growth. State Secretary Hubert Fuchs said:

“For some companies in the fintech industry, it is particularly difficult to keep track of all regulatory requirements and developments right from the start. Many
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