Regulators walk a fine line when developing policy in the current fast-changing technology environment, balancing an enabling regulatory environment and a safe financial system.
According to Sopnendu Mohanty, chief fintech officer at the Monetary Authority of Singapore (MAS), regulators should neither push innovation nor trail it, but stay abreast of new developments. “In Singapore, our approach is policy-making through experimentation because technology by design is subject to rapid change,” he says.
