Japan to spur fintech innovation with new regulatory regime 
Japan's businesses could find it easier to partner on financial technology projects if proposed regulatory changes by the country's Financial Services Agency are adopted. It is seeking to stimulate competition by switching the focus of regulation to services rather than businesses. Under the changes, which are proposed for 2018, all firms would be held to the same standard, regardless of size. Although non-banking companies would face more precise operating regulations, fintechs might be able to break the banks' monopoly on lucrative remittance and settlement operations.

TOKYO -- The Japanese government aims to make it easier for businesses to partner up in financial technology by leveling the regulatory playing field for different industries, hoping to prompt innovation that helps make financial services less costly.

Such enterprises as banks, e-money businesses and credit card companies are now subject to different laws according to their industries, even for the same services. The Financial Services Agency sees this compartmentalization as stifling competition.