With 74 votes in favor, the National Assembly Plenary approved the draft Law for the Development, Regulation, and Control of Technological Financial Services (Fintech Law) on Sunday, October 30.
It aims to provide legal certainty to financial technology organizations operating in the country and foreign companies seeking to establish and invest in Ecuador.
The Assembly reported it aims to provide users with secure access to these services that certify their data protection.
Elina Narváez, an Assembly member and rapporteur, explained that the approval of this legal initiative "will open an important space for financial inclusion and innovation in Ecuador . . .
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