Australia is open to payments innovation – RBA’s Bullock
Assistant governor says regulators will step in where they see a need, but will take a “graduated” approach
Australian regulators are seeking to build a regime that fosters innovation while maintaining stability, Reserve Bank of Australia assistant governor Michele Bullock said on July 8.
She said Australian authorities, in common with many other jurisdictions, were adopting a “graduated” approach to regulation, tailoring rules depending on the activities of would-be entrants to the market. Part of that approach includes the use of a regulatory sandbox.
Two issues will be of particular importance in
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