Innovation hubs should help central banks update regulation – panellists
Regulation should be transparent enough for fintechs to understand what requirements must be met
Central banks should use innovation hubs and sandboxes to alter regulation to be more appropriate for fintech firms, say central bankers.
Panellists speaking at Central Banking’s Fintech & Regtech Virtual Summit today (September 16) said such tools can provide fintech firms with a valuable opportunity to ask central banks questions about regulatory obligations and compliance. The exchange of information can benefit both parties.
“Close co-operation and engagement is crucial to ensure
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