Europe's Fintechs Talk About Sovereignty. Most of Them Still Run on American Clouds

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FinTech Weekly reports on Europe's sovereignty push, which is shifting from policy rhetoric to supervision and procurement criteria. The article highlights the proposed Cloud and AI Development Act (CADA), which defines four sovereignty assurance levels and could require NIS2-sector companies (including banks) to assess their cloud dependencies. Adoption of CADA is targeted for late 2027.