Abstract
In spite of regulatory authorities’ endeavor to promote the Fintech startups in the heavily regulated cross-border remittance market, its development has been slow and sporadic. The lingering uncertainty stems from a combination of factors: legacy infrastructures for silo-type of regulatory oversight, a nascent status of global guidelines on the use of virtual currencies, and lack of relevant compliance services for start-ups. This paper highlights the glaring gap of regulatory arbitrage in the use of sovereign fiat currency and its digital counterpart for the cross-border value transfer. Developing a balanced ecosystem via relevant legal, supervisory, and regulatory support should be prioritized before situation-driven fragmented and duplicate regulations are introduced.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
