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|Title:||Implications and Challenges of the Use of Blockchain for Financial Regulation|
Blockchain;Distributed Ledger Technology (DLT);Financial Regulation;FinTech;FinTech Regulation;RegTech
|Issue Date:||2018-03-23 16:52:54 (UTC+8)|
Distributed Ledger Technology (known also as “blockchain technology”) has a potential to disrupt financial markets in various ways, such as with asset issuance, payments, clearing and settlement. Its market-wide adoption is likely to reshape the way financial resources and risks being allocated and managed in the contemporary financial system. The use of blockchain technology is expected to pose significant challenges to financial regulation and the legacy legal system. A forward-looking review of the issues that arise would help policymakers, regulators and industry players prepare necessary responses in time.This paper explores implications and challenges of the use of blockchain for financial regulation, and discusses issue areas such as the broader governance issue of blockchain finance, liability allocation among blockchain participants, the implications for market competition and consumer protection, and the prevention of systemic risk. It concludes that the use of blockchain would be a catalyst to bring changes in regulatory norms and thinking.
|Relation:||月旦法學雜誌, No.267, pp.136-152|
|Appears in Collections:||[法律學系] 期刊論文|
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