Hardback
FinTech
Law and Regulation, 3rd edition
3rd edition
9781035314744 Edward Elgar Publishing
This fully revised and updated third edition provides a practical examination of legal and regulatory issues in FinTech, a sector whose rapid rise in recent years has produced opportunities for innovation but has also raised new challenges. Featuring insights from over 40 experts from 10 countries, this book analyses the statutory aspects of technology-enabled developments in banking and considers the impact these changes will have on the legal profession.
More Information
Critical Acclaim
Contributors
Contents
More Information
This fully revised and updated third edition provides a practical examination of legal and regulatory issues in FinTech, a sector whose rapid rise in recent years has produced opportunities for innovation but has also raised new challenges. Featuring insights from over 40 experts from 10 countries, this book analyses the statutory aspects of technology-enabled developments in banking and considers the impact these changes will have on the legal profession.
Key Features:
● Three new chapters covering AI in the Financial Sector, Bank-FinTech Partnerships and Embedded Payments, and a Comparison of the Regulation of Cryptoasset Activities in Europe and the United States
● Examination of potential blockchain and artificial intelligence applications in the financial services industry
● Exploration of guidelines on data protection, payments, cybersecurity, central bank digital currencies, anti-money laundering, tokenisation and blockchain
● Analysis of the main regulatory and compliance issues surrounding FinTech developments, from patenting challenges to innovative solutions, including regulatory sandboxes
● Dissection of the EU''s Regulation on Markets in Crypto-assets and DLT Pilot Regime, the US''s Executive Order on Ensuring Responsible Development of Digital Assets, the UK''s Financial Services and Markets Act
Considering the benefits and risks of new types of financial technologies, this book will prove an invaluable guide for in-house and private lawyers interested in a comprehensive legal overview of the FinTech sector. It will also appeal to students and scholars of financial law, banking, and economics.
Key Features:
● Three new chapters covering AI in the Financial Sector, Bank-FinTech Partnerships and Embedded Payments, and a Comparison of the Regulation of Cryptoasset Activities in Europe and the United States
● Examination of potential blockchain and artificial intelligence applications in the financial services industry
● Exploration of guidelines on data protection, payments, cybersecurity, central bank digital currencies, anti-money laundering, tokenisation and blockchain
● Analysis of the main regulatory and compliance issues surrounding FinTech developments, from patenting challenges to innovative solutions, including regulatory sandboxes
● Dissection of the EU''s Regulation on Markets in Crypto-assets and DLT Pilot Regime, the US''s Executive Order on Ensuring Responsible Development of Digital Assets, the UK''s Financial Services and Markets Act
Considering the benefits and risks of new types of financial technologies, this book will prove an invaluable guide for in-house and private lawyers interested in a comprehensive legal overview of the FinTech sector. It will also appeal to students and scholars of financial law, banking, and economics.
Critical Acclaim
‘As the head of legal for a public blockchain company, it is important for me to have quality reference materials. FinTech: Law and Regulation (3rd edn) covers the main legal considerations in FinTech, from liabilities specific to new technologies to the application of existing and developing regulations. With contributions from noted practitioners and well researched content, this book is a great resource for anyone looking to understand blockchain and the broader FinTech space.’
– Jason Rozovsky, Axelar Inc., US
‘The digital transformation of finance is happening in every country, and while the core technology and concepts related to FinTech are standard around the world, the local context from one market to the next can be quite different. Awareness of the different market specific regulations and varied financial practices is essential to understand how law and regulation work around the globe, and to appreciate the challenges and possibilities that FinTech offers, I highly recommend this book, you’ll learn a lot.’
– Tram Anh Nguyen, CFTE, Centre for Finance, Technology and Entrepreneurship
– Jason Rozovsky, Axelar Inc., US
‘The digital transformation of finance is happening in every country, and while the core technology and concepts related to FinTech are standard around the world, the local context from one market to the next can be quite different. Awareness of the different market specific regulations and varied financial practices is essential to understand how law and regulation work around the globe, and to appreciate the challenges and possibilities that FinTech offers, I highly recommend this book, you’ll learn a lot.’
– Tram Anh Nguyen, CFTE, Centre for Finance, Technology and Entrepreneurship
Contributors
Contributors include: Sophia Adams-Bhatti, Mara Alioto, Jon Ammons, Douglas Arner, Colleen Baker, Claude Brown, Ross Buckley, Jennifer Calver, Peter Chapman, Jess Cheng, Sofya Cherkasova, Peter Church, Lewis Rinaudo Cohen, Daniel Cooper, Simon Crown, Romin Dabir, Evis Daum, Patricia L. de Miranda, Hubert de Vauplane, Anton Didenko, Mark Fenwick, Jade Felber, Jane Finlayson-Brown, Jonathan Ford, Simon Grieser, John Ho Hee Jung, Nikki Johnstone, Wulf A. Kaal, Charles Kerrigan, Jelena Madir, Gary E Murphy, Gemma Nash, Philip Orange, Kieran Pender, Ben Regnard-Weinrabe, Lee Reiners, Hagen Rooke, Kim Rust, Mirjana Stankovic, Harriet Territt, Andrea Tinianow, Erik P.M. Vermeulen, Kevin Werbach, Anna Yamaoka-Enkerlin, Dirk Zetzsche
Contents
CONTENTS
Extended contents vii
List of contributors xviii
Preface xxix
Glossary xxxii
1 Introduction – what is fintech? 1
Jelena Madir
PART I PAYMENTS, ALTERNATIVE FINANCING AND CRYPTOASSETS
2 Adapting to a changing payments landscape 24
Ben Regnard-Weinrabe, Nikki Johnstone and Jane Finlayson-Brown
3 Bank-FinTech partnerships: a practitioner’s guide to the evolving policy landscape and key
regulatory considerations 75
Jess Cheng, Evis Daum and Mara Alioto
4 Crowdfunding 94
Peter Chapman, Simon Crown and Jade Felber
5 Cryptoassets and initial coin offerings 127
Claude Brown, Romin Dabir, Simon Grieser, Jon Ammons and Hagen Rooke
6 A comparison of the regulation of cryptoasset activities in Europe and the United States 167
Andrea Tinianow and Lewis Cohen
7 Cryptocurrencies and central banks 182
Hubert de Vauplane
PART II BLOCKCHAIN AND DISTRIBUTED LEDGERS
8 Blockchain in financial services 216
Colleen Baker and Kevin Werbach
9 Smart contracts 244
Jelena Madir
10 Governing the blockchain: what is the applicable law? 268
Harriet Territt
11 Liabilities associated with distributed ledgers: a comparative analysis 295
Dirk Zetzsche, Ross Buckley, Douglas Arner and Anton Didenko
12 Cybersecurity and blockchain 318
Patricia L. de Miranda and Charles Kerrigan
13 Blockchain and privacy 344
Daniel Cooper and Gemma Nash
PART III REGULATION AND COMPLIANCE
14 RegTech and SupTech: the future of compliance 369
John Ho Hee Jung
15 The rise of TechFins: regulatory challenges 397
Dirk Zetzsche, Ross Buckley and Douglas Arner
16 AI in financial services – the legal and regulatory landscape 420
Jennifer Calver, Peter Church, Jonathan Ford and Kim Rust
17 Regulatory sandboxes 460
Byungkwon Lim and Charles Low updated by Gary E. Murphy and Philip Orange
18 Compliance and whistleblowing: how technology will replace, empower and change
whistleblowers 486
Kieran Pender, Sofya Cherkasova and Anna Yamaoka-Enkerlin
19 Regulation of robo-advisory services 524
Lee Reiners
20 Patentability of FinTech inventions 554
Mirjana Stankovic
PART IV TECHNOLOGICAL INNOVATIONS IN LEGAL SERVICES
21 The innovation process in law firms 576
Sophia Adams-Bhatti
22 Future lawyers: re-imagining legal education 607
Mark Fenwick, Wulf A. Kaal and Erik P. M. Vermeulen
Extended contents vii
List of contributors xviii
Preface xxix
Glossary xxxii
1 Introduction – what is fintech? 1
Jelena Madir
PART I PAYMENTS, ALTERNATIVE FINANCING AND CRYPTOASSETS
2 Adapting to a changing payments landscape 24
Ben Regnard-Weinrabe, Nikki Johnstone and Jane Finlayson-Brown
3 Bank-FinTech partnerships: a practitioner’s guide to the evolving policy landscape and key
regulatory considerations 75
Jess Cheng, Evis Daum and Mara Alioto
4 Crowdfunding 94
Peter Chapman, Simon Crown and Jade Felber
5 Cryptoassets and initial coin offerings 127
Claude Brown, Romin Dabir, Simon Grieser, Jon Ammons and Hagen Rooke
6 A comparison of the regulation of cryptoasset activities in Europe and the United States 167
Andrea Tinianow and Lewis Cohen
7 Cryptocurrencies and central banks 182
Hubert de Vauplane
PART II BLOCKCHAIN AND DISTRIBUTED LEDGERS
8 Blockchain in financial services 216
Colleen Baker and Kevin Werbach
9 Smart contracts 244
Jelena Madir
10 Governing the blockchain: what is the applicable law? 268
Harriet Territt
11 Liabilities associated with distributed ledgers: a comparative analysis 295
Dirk Zetzsche, Ross Buckley, Douglas Arner and Anton Didenko
12 Cybersecurity and blockchain 318
Patricia L. de Miranda and Charles Kerrigan
13 Blockchain and privacy 344
Daniel Cooper and Gemma Nash
PART III REGULATION AND COMPLIANCE
14 RegTech and SupTech: the future of compliance 369
John Ho Hee Jung
15 The rise of TechFins: regulatory challenges 397
Dirk Zetzsche, Ross Buckley and Douglas Arner
16 AI in financial services – the legal and regulatory landscape 420
Jennifer Calver, Peter Church, Jonathan Ford and Kim Rust
17 Regulatory sandboxes 460
Byungkwon Lim and Charles Low updated by Gary E. Murphy and Philip Orange
18 Compliance and whistleblowing: how technology will replace, empower and change
whistleblowers 486
Kieran Pender, Sofya Cherkasova and Anna Yamaoka-Enkerlin
19 Regulation of robo-advisory services 524
Lee Reiners
20 Patentability of FinTech inventions 554
Mirjana Stankovic
PART IV TECHNOLOGICAL INNOVATIONS IN LEGAL SERVICES
21 The innovation process in law firms 576
Sophia Adams-Bhatti
22 Future lawyers: re-imagining legal education 607
Mark Fenwick, Wulf A. Kaal and Erik P. M. Vermeulen
