Some implications of the new global digital economy for financial regulation and supervision

José Carlos Laguna de Paz ()
Additional contact information
José Carlos Laguna de Paz: University of Valladolid

Journal of Banking Regulation, 2023, vol. 24, issue 2, No 2, 146-155

Abstract: Abstract The digital economy is leading to substantial changes in the financial sector. Not surprisingly, it raises a number of sensitive legal issues. (1) New technologies and big data are expected to increase efficiency in the financial sector. But some limits need to be drawn in order to protect the fundamental rights at stake, such as privacy and non-discrimination. (2) The application of the so called supervisory technology (SupTech) can improve financial supervision, but it does not seem to alter its legal foundations. (3) We have to consider the role that big techs might play in the financial system and whether they should be subject to a tailor made regulation. (4) Digital currencies take us to the basics of what money is and to wonder what the role of the State is in relation to it. (5) Finally, we have to consider the implications that the creation of an official digital currency could have for the financial system.

Keywords: Financial sector; Regulation and supervision; Digital economy; Digital euro; Artificial intelligence; Crypto-currencies; SupTech; CBDs (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://link.springer.com/10.1057/s41261-022-00189-1 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:jbkreg:v:24:y:2023:i:2:d:10.1057_s41261-022-00189-1

Ordering information: This journal article can be ordered from
http://www.springer.com/finance/journal/41261/PS2

DOI: 10.1057/s41261-022-00189-1

Access Statistics for this article

Journal of Banking Regulation is currently edited by Dalvinder Singh

More articles in Journal of Banking Regulation from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().