Jack Ma slams Basel regulations
Alibaba founder says Basel Accord limits innovation; regulators remain cautious on big tech
The founder of Chinese tech giant Alibaba has blasted financial regulation in China, saying it “missed the point on preventing systemic risks”.
He also railed against the Basel Accords and said the international financial regulation framework is not suitable for China.
“Today the Basel regulations have put a big limit on innovation in Europe as a whole, for example in the digitalisation of finance,” Jack Ma, who controls Chinese fintech company Ant Group, said on October 23. “The Basel
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