At a Glance - Regulating digital finance - 30-09-2020
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The use of new technologies to enable and enhance the activities of the financial sector has the potential to provide significant benefits, including efficiency gains, cost reductions, improved data management and transparency. At the same time, it entails riAt a Glance - Regulating digital finance - 30-09-2020
The use of new technologies to enable and enhance the activities of the financial sector has the potential to provide significant benefits, including efficiency gains, cost reductions, improved data management and transparency. At the same time, it entails risks in fields such as financial stability, financial crime and consumer protection. These risks may further increase due to the fragmented regulatory landscape in the EU, and uneven global developments in regulating the sector. There is therefore a need for the EU to create a comprehensive and stable regulatory framework in this area. Parliament is expected to debate a legislative-initiative report with recommendations to the European Commission to act in this area during its October I plenary session. Source : © European Union, 2020 - EP Read more