Co-operation in Fintech Regulation
Competitiveness among Asia's major financial centres, such as Singapore and Hong Kong, is undermining fintech development. Regulatory complexity in the region is creating uncertainty for investors. Whilst governments in Asia have launched a number of initiatives to lure fintech investors, major investors are calling for more government co-operation in fintech regulation in Asia.
Investors put about $19 billion worldwide into fintech, including P2P lenders, blockchain (distributed ledger technology) and crowdfunding platforms, in 2016. E.g. cryptocurrency exchanges have different regulations in various Asian countries which makes fintech licenses and development difficult.