WEF 2020: Norms for fintech sector need to be eased, says advocate Pratibha Jain
Prescriptive laws will keep becoming obsolete as technologies change, and banning technologies like cryptocurrencies will only push the market for them to develop outside India, Jain said
- Jan 26, 2020,
- Updated May 19, 2022 1:46 PM IST
There is a need to ease regulation for the fintech sector in India for promoting financial inclusion, a lawyer has said while observing that ban on technologies like cryptocurrencies will push them to develop outside the country. While regulations are critical to ensure that fintech solutions are not used for money laundering or terror financing, banning new technologies will prove to be counter productive, advocate Pratibha Jain said at the World Economic Forum in Davos.
Jain, Founder and New Delhi Head of the Nishith Desai Associates, was invited to speak at the Caspian Week, WEF. The conference focuses on the caspian region as a vital element of the future global society and economy.
She was speaking at the session, "Anti-Money Laundering and Counter Terrorist Financing (AMLCTF) System in Modern FinTech Industry".
WEF 2020: Goldman Sachs CEO calls failed WeWork IPO great example of listing process
There is a need to ease regulation for the fintech sector in India for promoting financial inclusion, a lawyer has said while observing that ban on technologies like cryptocurrencies will push them to develop outside the country. While regulations are critical to ensure that fintech solutions are not used for money laundering or terror financing, banning new technologies will prove to be counter productive, advocate Pratibha Jain said at the World Economic Forum in Davos.
Jain, Founder and New Delhi Head of the Nishith Desai Associates, was invited to speak at the Caspian Week, WEF. The conference focuses on the caspian region as a vital element of the future global society and economy.
She was speaking at the session, "Anti-Money Laundering and Counter Terrorist Financing (AMLCTF) System in Modern FinTech Industry".
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