Abstract
Fintech technologies have achieved great success in expanding access to payment services in some countries of the world. They are used by major digital platforms to fill gaps in the traditional payment system. More and more companies around the world are embracing Fintech and moving to the latest technologies that can lead to significant efficiency gains in the financial sector, including payments, financing, investments, asset management and insurance. However, they can also pose risks to the stability and integrity of the financial system, especially when they operate outside the scope of financial regulation and supervision. Every country in the world is unique, each country has its own legislation and its own approach to legal regulation of Fintech. Currently, there is no single legal act in the world that would regulate Fintech in absolutely all countries. Just as there is no single tax code in the world, there cannot be a single regulatory act regulating Fintech, because each country has its own legislation, traditions, culture, etc., so the approach to Fintech in each country is individual. The article analyzes the experience of legal regulation of the Fintech market in the European Union and examines in depth the experience of the Kingdom of Belgium. The Fintech legal regulation of the Kingdom of Belgium is based on EU directives, regulations, resolutions and other legal acts, which are the basis of Belgian law. Belgian fintech legislation is adapted to the norms of the European Union and defines the “rules of the game” for Fintech services in Belgium, allowing Belgian authorities to carry out financial regulation, supervision, control over Fintech platforms for their compliance with relevant laws, regulations, standards, which enable government agencies to fight cybercrime, money laundering, bring perpetrators to justice, and provide Fintech platforms with corporate transparency, integrity, and consumers with protection from cybercrime, fraud, and other crimes.
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