Pilot Regime On DLT Market Infrastructure - Finance and Banking mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
Speaking about the ongoing digital transformation of financial services the Chairman of the French
Autorité des Marchés Financiers (AMF),
Robert Ophèle, commented on the emergence of crypto assets (digital assets) for both non-securities and securities.
Ophèle first noted the ongoing COVID health crisis has helped to propel the shift to Fintech services noting that in 2019 contactless payments stood at 35% while during 2020 the same now accounts for 50% of payment transactions. The confluence of AI, data, DLT, and more will “profoundly redesign our markets.” While concerns for investor protection will always remain the “development of crypto-assets makes it indispensable to rapidly regulate their market at the appropriate level” as part of this digital transformation.