A Guide to Financial Regulation for Fintech Entrepreneurs

Loesch, Stefan

doi:10.1002/9781119436775

Cited by 7 publications

(2 citation statements)

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“…Financial markets, which are the lifeblood of the economy, are subject to stringent controls as they deal with people's and businesses' savings (Loesch, 2018). An example of this is the Bank Secrecy Act of 1970, which requires financial institutions to cooperate with the US government to reduce financial crimes, verify their customers' information, and monitor financial activities and report anything suspicious to the relevant authority (GetID, 2022).…”

Section: Regulation Technologies (Regtech)mentioning

confidence: 99%

Merkezi Olmayan Finans’ın (DeFi) Fırsat ve Tehditlerinin Analizi

KOMŞUOĞLU YILMAZ

2024

BILTURK

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With the expansion of digitalization into the financial sector, emerging technology has also demonstrated new applications within the traditional financial system. This rapid change in the financial system was not limited only to the applications in the central financial system and the emergence of financial assets, but then steps were taken to the decentralized financial system. The aim of this study is to examine the Decentralized Finance (DeFi) system, which has emerged as an independent alternative to the traditional finance system, and to reveal the opportunities and threats in this field. In this context, the focus was first on the traditional central financial system, which consists mostly of banking and financial institutions. Then, digital assets, cryptocurrencies, FinTech and RegTech which are the antecedents of decentralized finance system were explained. This study examines DeFi, an independent and pioneering technology, highlighting its distinctive features and explaining the opportunities and threats it presents. While the important opportunities emerging with DeFi are accessibility, globality, cost effectiveness and transparency, the main threats are listed as exclusion of the central financial system, volatility, legal problems and security risk.

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Section: Regulation Technologies (Regtech)mentioning

confidence: 99%

Merkezi Olmayan Finans’ın (DeFi) Fırsat ve Tehditlerinin Analizi

KOMŞUOĞLU YILMAZ

2024

BILTURK

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“…While there is a general belief that markets work well in many instances, there is also an understanding that market failures and that markets left to themselves can lead to suboptimal or bad outcomes (Loesch, 2018). In many cases, market failures can be traced back to the fact that one party is better informed than the other one-not because they have failed to do their homework, but because structurally, one party to the transaction finds it impossible or at least very expensive to acquire information that the other side has.…”

Section: Literature Review a Strategic Regulationmentioning

confidence: 99%

Fintech Credit in Kenya: The Case for Strategic Regulation

Namusonge¹

2022

afmj

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The study sought to present the case for strategic regulation in the Fintech Sector, specifically in digital credit, with reference to Kenya. This was based on the concern that the proposed regulation on Fintech Credit by the Kenyan Parliament and the Government of Kenya does not factor in the sustainability aspects of Fintech Credit businesses. The study is anchored on the Public Interest Theory, the Private Interest Theory, and the Economic Theory of Regulation. The study adopted desk research, which depended on the review and examination of primary data sources such as legislation, government policy documents, acts of parliament, and reports. The study sought to achieve its objectives by evaluating the current laws and regulations affecting mobile lending in Kenya. It then relied on a comparison with two jurisdictions, specifically India and USA, where one has an existing mobile lending regulatory framework, and the other has a general regulatory framework respectively. It was established that the proposed regulations have a bias toward consumer protection and do not focus on business sustainability. The study, therefore, concluded that one single regulatory framework or laws will be insufficient for a sector where the laws in place will always be one step behind innovation in Fintech credit, and observed the need for a strategic approach to the regulation of Fintech credit in Kenya. It was recommended that, Fintech credit regulation in Kenya ought to incorporate a degree of flexibility. This flexibility is envisaged by Regtech, which takes care of new product-specific regulations. Secondly, regulators in Kenya should engage in Fintech Credit promotion by creating regulatory sandboxes. Sandboxes allow innovators to test their concepts in a deregulated environment that the rest of the market does not enjoy.

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Teaching Alternative Finance Curriculum to Undergraduates, Graduates, and Executives

Kaila

2023

Contributions to Finance and Accounting

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A Guide to Financial Regulation for Fintech Entrepreneurs

Cited by 7 publications

References 0 publications

Merkezi Olmayan Finans’ın (DeFi) Fırsat ve Tehditlerinin Analizi

Merkezi Olmayan Finans’ın (DeFi) Fırsat ve Tehditlerinin Analizi

Fintech Credit in Kenya: The Case for Strategic Regulation

Teaching Alternative Finance Curriculum to Undergraduates, Graduates, and Executives

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