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14 October 2016

Total Bans No Longer Shape Up Digital Technologies

High on the agenda of "Digital technology regulations. Features of foreign and Russian practice" section was the issue of changing the management methods of such technologies.
"Total bans no longer shape up digital technologies. They do not ensure security, and moreover, they menace an innovation lag," explained Vadim Kalyhov, Director of Financial Technology, Projects and Process Management Department of the Bank of Russia.
The participants also touched the issues of blockchain management, identification, big data, regulatory sandboxes and others. During the session, they arrived at the conclusion that close cooperation is required not only between the regulators and market participants but between regulators of various market segments as well.