ADAPTING FINTECH AND BLOCKCHAIN FINANCIAL POLICIES IN EMERGING ASIA

Dr Eugin Prakash Pathrose

Associate Professor, Skyline University College

Dr.Priyanka

Lecturer, College of Business, University of Fujairah

Abstract

Fintech offers opportunities to foster financial stability, along with a deepening of financial markets and a broadening of their inclusiveness. However, new risks may also arise. For instance, Fintech may lead to riskier behaviour by banks. In turn, this could lead to more volatility, due to effects of this behaviour on their reputations. Regulators in Emerging Asia should consider policies to include Fintech firms in the regulatory perimeter where gaps exist. Finally, to avoid risks associated with the cross- border nature of Fintech’s financial activities, regulators should increase co-operation, either through regulatory convergence or via reciprocity arrangements. TheOECD Development Centre is committed to working alongsidethegovernments of developing and emerging economies and regional actors to identify key areas of intervention in order to address challengesin strengthening macroprudential policies and other policy areas.