Keeping Pace With Change Fintech And The Evolution Of Commercial Law
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Keeping Pace With Change Fintech And The Evolution Of Commercial Law
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2022-01-27
Keeping Pace With Change Fintech And The Evolution Of Commercial Law written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-27 with categories.
This note explores the interactions between new technologies with key areas of commercial law and potential legal changes to respond to new developments in technology and businesses. Inspired by the Bali Fintech Agenda, this note argues that country authorities need to closely examine the adequacy of their legal frameworks to accommodate the use of new technologies and implement necessary legal reform so as to reap the benefits of fintech while mitigating risks. Given the cross-border nature of new technologies, international cooperation among all relevant stakeholders is critical. The note is structured as follows: Section II describes the relations between technology, business, and law, Section III discusses the nature and functions of commercial law; Section IV provides a brief overview of developments in fintech; Section V examines the interaction between technology and commercial law; and Section VI concludes with a preliminary agenda for legal reform to accommodate the use of new technologies.
Commercial And Arbitration Law Of The Digital Economy
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Author : Robert Walters
language : en
Publisher: Taylor & Francis
Release Date : 2024-08-01
Commercial And Arbitration Law Of The Digital Economy written by Robert Walters and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-01 with Law categories.
This book discusses the importance of the digital economy and its most pressing challenge: the onset of quantum and critical technology. It looks at how its implementation, either on its own or coupled with artificial intelligence, impacts commercial and arbitration law. International trade and investment are increasingly being integrated within national security policy and the law to protect the nation state. A failure to safeguard personal and commercial data will allow other state and non-state actors to set the rules that do not align with the values of the rule of law and transnational rules-based system. This book argues that it is necessary to establish a principles-based approach to governing the development and use of these technologies. Chapters touch on the application of smart contracts, arbitration, as well as mergers and acquisitions and their potential weaponisation in the digital economy due to their ability to transcend national security. Elements of intellectual property, particularly patents and trademarks, and how international legal instruments have directed national law-making are also explored. This is a useful reference for governments, regulators, legal, technologists and policy experts. This is also of interest to scholars looking at personal and commercial data in relation to intellectual property, contracts and international commercial arbitration law.
Digital Tokens A Legal Perspective
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Author : Mr. José M. Garrido
language : en
Publisher: International Monetary Fund
Release Date : 2023-07-28
Digital Tokens A Legal Perspective written by Mr. José M. Garrido and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-28 with Business & Economics categories.
Tokens are units digitally represented in a distributed ledger or blockchain. The various uses of this technology have the potential to transform a wide array of economic activities, from traditional commercial transactions to sophisticated financial undertakings. This paper explores the similarities and differences of tokens with traditional legal instruments in commercial law and how tokens could offer superior solutions, provided that proper legal foundations are established for their operation, including aspects of the law of securities and consumer protection law.
Global Financial Stability Report April 2022
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Author : INTERNATIONAL MONETARY FUND.
language : en
Publisher: International Monetary Fund
Release Date : 2022-04-19
Global Financial Stability Report April 2022 written by INTERNATIONAL MONETARY FUND. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-19 with Business & Economics categories.
Chapter 1 looks at the implications of the war in Ukraine on the financial system. Commodity prices pose challenging trade-offs for central banks. Many emerging and frontier markets are facing especially difficult conditions. In China, financial vulnerabilities remain elevated amid ongoing stress in the property sector and new COVID-19 outbreaks. Central banks should act decisively to prevent inflation from becoming entrenched without jeopardizing the recovery. Policymakers will need to confront the structural issues brought to the fore by the war, including the trade-off between energy security and climate transition. Chapter 2 discusses the sovereign-bank nexus in emerging markets. Bank holdings of domestic sovereign bonds have surged in emerging markets during the pandemic. With public debt at historically high levels and the sovereign credit outlook deteriorating, there is a risk of a negative feedback loop that could threaten macro-financial stability. Chapter 3 examines the challenges to financial stability posed by the rapid rise of risky business segments in fintech. Policies that target both fintech firms and incumbent banks proportionately are needed.
Elements Of Effective Policies For Crypto Assets
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-23
Elements Of Effective Policies For Crypto Assets written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-23 with Business & Economics categories.
This paper aims to address questions by Fund members on how to respond to the rise of crypto assets and the associated risks. To frame the discussion, the paper defines and classifies crypto assets based on their underlying features and describes their purported benefits and potential risks. The paper presents a policy framework for crypto assets that aims to achieve key policy objectives such as macroeconomic stability, financial stability, consumer protection, and market and financial integrity. The framework outlines key elements that are necessary to ensure that these objectives are met. However, such a framework will not fix any underlying crypto design flaws (for instance, the lack of a credible nominal anchor, payments finality, or scalability).
Strengthening Capital Markets National Progress And Gaps
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Author : Cristina Cuervo
language : en
Publisher: International Monetary Fund
Release Date : 2022-06-28
Strengthening Capital Markets National Progress And Gaps written by Cristina Cuervo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-28 with Business & Economics categories.
This paper discusses progress on post-global financial crisis (GFC) reforms and the emerging challenges in the area of capital markets regulation and supervision, drawing on the analysis and insights from the IMF’s Financial Sector Assessment Program (FSAP). FSAP analyses sheds light on the implementation of post-GFC reforms to strengthen prudential and conduct supervision of capital markets and highlights new regulatory and supervisory challenges arising from several factors such as the growth of bond markets, benchmark transition, digitalization, and climate change. Key takeaways regarding implementation of post-GFC reform include significant progress with respect to oversight of market intermediaries and infrastructures and a case for further regulatory and supervisory action to address vulnerabilities arising from the high and rising interconnectedness of the asset management sector with the global economy, especially to foster stronger liquidity risk management. Emerging priority areas underscore the importance of ensuring the adequacy of issuer disclosures and quality of auditing; of examining and appropriately calibrating the regulatory perimeter in light of market developments; and of proactively safeguarding the operational independence of supervisory authorities and adequacy of their resources for implementation of regulatory frameworks that are fit-for-purpose in light of market developments and evolution.
A Multi Currency Exchange And Contracting Platform
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Author : Mr. Tobias Adrian
language : en
Publisher: International Monetary Fund
Release Date : 2022-11-04
A Multi Currency Exchange And Contracting Platform written by Mr. Tobias Adrian and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-04 with Business & Economics categories.
Cross-border payments can be slow, expensive, and risky. They are intermediated by counterparties in different jurisdictions which rely on costly trusted relationships to offset the lack of a common settlement asset as well as common rules and governance. In this paper, we present a vision for a multilateral platform that could improve cross-border payments, as well as related foreign exchange transactions, risk sharing, and more generally, financial contracting. The approach is to leverage technological innovations for public policy objectives. A common ledger, smart contracts, and encryption offer significant gains to market efficiency, completeness, and access, as well as to transparency, transaction and compliance costs, and safety. This paper is a first step aiming to stimulate further work in this space.
Virtual Assets And Anti Money Laundering And Combating The Financing Of Terrorism 1
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Author : Nadine Schwarz
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-14
Virtual Assets And Anti Money Laundering And Combating The Financing Of Terrorism 1 written by Nadine Schwarz and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-14 with Business & Economics categories.
The purpose of this note is to assist countries in their understanding and mitigation of the money laundering (ML), terror financing (TF), and financing of the proliferation of weapons of mass destruction (PF) risks related to virtual assets (VAs). This is the first of two Fintech Notes dedicated to VAs and anti-money laundering and combating the financing of terrorism (AML/CFT). This first note is broad in scope. It explains why VAs are vulnerable for misuse for ML/TF/PF purposes and clarifies which assets and service providers should be subject to AML/CFT measures. It discusses the measures that all countries should take, and the type of action necessary in instances of criminal misuse of VA. A second Fintech note focuses on the AML/CFT regulatory and supervisory framework for virtual asset service providers (VASPs). Both notes are based on Financial Action Task Force (FATF) standards and draw heavily on the FATF’s 2019 “Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers.” They aim at providing policy makers and authorities with AML/CFT responsibilities with an overview of the legal and operational considerations that the implementation of a sound AML/CFT framework for VAs and VASPs raises. In some instances, the notes make reference to specific types of VAs, VASPs, and related products. These references are made for illustrative purposes only, and do not constitute an endorsement of the specific VAs, VASPs, and related products. Finally, at the time of drafting, no country had been assessed against the new standards and many country authorities were in the process of establishing how best to incorporate the new standards in their AML/CFT framework. For these reasons, this note does not refer to specific country examples.
Sistema De Derecho Societario Actual
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Author : Sebastián Balbín
language : es
Publisher: Universidad Austral Ediciones
Release Date : 2023-01-02
Sistema De Derecho Societario Actual written by Sebastián Balbín and has been published by Universidad Austral Ediciones this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-02 with Law categories.
La obra propone la simplificación radical del Derecho Societario. Partiendo de los esquemas tradicionales se avanza hacia la supresión de la mayoría de las formas y normas existentes. Se concluye en la conveniencia de un sistema simplificado, que gire exclusivamente en torno a solo dos principios que hacen a la esencia del Derecho Societario (personalidad y limitación de responsabilidad) y un mecanismo de instrumentación/funcionamiento (formación de voluntad). La solución tiene impacto en el área legislativa, por cuanto propone la modernización del sistema societario. De allí se desprende que la obra dispone de potenciales interesados además de los profesionales de Derecho.
The Promise Of Fintech
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Author : Ms.Ratna Sahay
language : en
Publisher: International Monetary Fund
Release Date : 2020-07-01
The Promise Of Fintech written by Ms.Ratna Sahay and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-01 with Business & Economics categories.
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.