Carstens: regulators must promote ‘orderly assimilation’ of tech
Technology may threaten “integrity” of financial markets, BIS chief says
Regulators must be vigilant to ensure technological change does not upend the financial system, Agustín Carstens said on October 30.
The general manager of the Bank for International Settlements (BIS) emphasised the likely benefits of technological change during his remarks in Nassau.
But Carstens also said fintech could pose risks to the “adequate functioning” and even, given enough time, “the integrity and stability of the financial system”.
He maintained his tough stance on crypto assets
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