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Chris Berg

Financial rules for the algorithm age

Brilliant new financial technologies are coming. But they will be a nightmare for regulators without changes of the law.

Chris BergBlockchain expert

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A lot has changed in cryptocurrency since the last bull run in 2017. And these changes have made the regulatory regime that emerged in Australia since the invention of bitcoin look decidedly creaky – if not completely incoherent – and a serious barrier to fintech innovation and investment.

For the most part, Australian policymakers have preferred to squeeze digital assets into existing regulatory frameworks rather than create new frameworks.

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Chris Berg is co-director of the RMIT Blockchain Innovation Hub.

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    Original URL: https://www.afr.com/policy/economy/financial-rules-for-the-algorithm-age-20210223-p5752n