October 18, 2022
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Partner Barney Reynolds has authored an article, published by the Digital Economy Institute, titled “A new direction of travel for financial regulation – time for fresh thinking.” The article examines the opportunity to rethink basic principles of financial regulation in the context of the maturation of digital ledger technology (DLT), allowing regulation to become less prescriptive, more competitive, more transparent and more efficient, with greater customer protection.
Reynolds considers the potential impact of DLT on risk management and the reduction in financial crime, and how the technology would bring to the system the benefits of increased transparency, which would also benefit consumers. In addition, he assesses the potential implications and benefits of digital assets, including central bank digital currencies and stablecoins, as they become mainstream and more widely adopted.
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