- “Taking China out of the picture, I’d laugh at anyone who says fintech is posing right now any material risk in any market,” Scandurra said.
- Regulators are now asking whether the blockchain computing process, which underpins the digital currency bitcoin, will have an impact on how they protect consumers and keep the financial system stable if something goes wrong, the Reuters Financial Regulation Summit heard this week.
- But if blockchain takes off, applying existing anti-money laundering, securities trading and consumer protection rules may be all that’s needed for now, regulators said.
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@bitcoinagile: “REUTERS SUMMIT-#blockchain sends banking regulators back to basics #Politics #London #Banks”
*Regulators start to look at fintech innovation. LONDON/ HONG KONG, May 20- The’ fintech’ sector hoping to revolutionize finance with the adoption of blockchain, or distributed ledger technology, is forcing global financial regulators to start looking at whether they need to change the rules governing markets and banking. Andrew Bailey, deputy governor of the…
REUTERS SUMMIT-Blockchain sends banking regulators back to basics