Strategic technology: Regulation and innovation of CBDCs

Frederic de Vaulx

Contents

Foreword

Preface

Preface

Introduction: Suptech/regtech defined: Payments, sandboxes and beyond

1.

The uncertain prudential treatment of cryptoassets

2.

US regulatory certainty versus uncertainty for crypto and blockchain

3.

Bermuda: Suptech and regtech supporting the risk-based approach

4.

Suptech: A new era of supervisory philosophy

5.

Cloud computing in the financial sector: A global perspective

6.

DeFi protocol risks: The paradox of cryptofinance

7.

IT transformation in the Prudential Authority of South Africa: A case study

8.

Making the vision a reality: Perspectives from the Monetary Authority of Singapore

9.

Lessons from Hong Kong through the lens of the HKMA

10.

Technological change: Is it different this time?

11.

The ECB’s suptech innovation house: Paving the way for digital transformation of banking supervision

12.

China’s financing opening up and regulatory convergence with the world

13.

Disclosures and market discipline: The promise of regtech

14.

Regtech and new derivatives developments

15.

Fintech and regtech: Leading the evolution and regulation of alternative investments

16.

The role of artificial intelligence and big data in investment management

17.

The promise and challenges of machine learning in finance

18.

Data privacy and alternative data

19.

Digital ID and financial inclusion

20.

Strategic technology: Regulation and innovation of CBDCs

21.

Regulatory sandboxes: Innovation and financial inclusion

22.

Technology and sandbox development innovation in a transitional market: A case study

23.

Developing the regulatory ecosystem: The evolution of stablecoin

24.

Central bank digital currency, regtech and suptech

25.

Digital dollar: Cryptocurrency for everyday commerce

26.

CFTC regtech implications for virtual currency trading

27.

Fintech, regtech, suptech and central bank decision making

The fields of regulatory and supervisory technologies (regtech and suptech) have emerged with the increasingly rapid development and complexification of the existing digital monetary ecosystem and financial market infrastructure. This requires technological innovation to support the infrastructure’s complexity and to manage the risks that may arise. In addition, achieving a sustainable alignment with domestic and international financial stability goals is driving both innovation and new business models while supporting the unique mandates of both traditional and new stakeholders (eg, central banks, private banks, practitioners and consumers).

Many domestic and cross-border regulations, such as know your customer (KYC), anti-money laundering (AML), the Bank Secrecy Act (BSA), the Dodd–Frank Act or General Data Protection Regulation (GDPR), have been introduced to protect the consumer and the economic system. They have an impact on what regulated financial institutions and supervisory institutions can do, as well as the authority and responsibilities these entities have in their respective fields. Innovations and technologies continue to evolve to address the complexity and broad

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