Regulating digital finance
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.
At a Glance
About this document
Publication type
Author
Policy area
Keyword
- blockchain
- computer crime
- consumer protection
- consumption
- data protection
- EDUCATION AND COMMUNICATIONS
- ENVIRONMENT
- environmental impact
- environmental policy
- FINANCE
- financial institutions and credit
- financial services
- financial technology
- information and information processing
- information security
- information technology and data processing
- legislative initiative
- monetary economics
- new technology
- parliamentary proceedings
- POLITICS
- PRODUCTION, TECHNOLOGY AND RESEARCH
- technology and technical regulations
- TRADE
- virtual currency