The rise of global fin tech companies is a cause for concern. While these companies often promise greater efficiency and lower costs, they also pose a threat to traditional financial institutions and the stability of the financial system as a whole. The unregulated nature of the industry means that these companies can operate without oversight or accountability, potentially putting the finances of millions of people at risk. Without proper regulation, the risks of cyber attacks, fraud, and financial crises increase. We cannot allow these companies to continue operating unchecked. It is time for governments and regulators to step in and take action to protect consumers and ensure the stability of our financial system.
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