Regulating Fintech: Objectives, Principles, and Practices

17 Pages Posted: 21 Feb 2020 Last revised: 13 Mar 2020

See all articles by Marlene Amstad

Marlene Amstad

The Chinese University of Hong Kong, Shenzhen; Harvard Kennedy School

Multiple version iconThere are 2 versions of this paper

Date Written: October 8, 2019


We provide an overview and key elements on the ongoing debate of whether and how to regulate fintech. We review three objectives of financial regulation (investor protection, market integrity, safeguarding financial stability) in the context of recent fintech developments, cover three guiding principles many regulators follow (legal certainty, technology neutrality, and proportionality), and end with a suggested synopsis of current fintech regulatory practices: “wait-and-see”, “same risk, same rules” (“duck typing”), or “new functionality, new rules” (“coding”).

Keywords: fintech, financial technology, digital currency

JEL Classification: G15, F65, O16

Suggested Citation

Amstad, Marlene and Amstad, Marlene, Regulating Fintech: Objectives, Principles, and Practices (October 8, 2019). Asian Development Bank Institute Working Paper Series 1016, Available at SSRN: or

Marlene Amstad (Contact Author)

Harvard Kennedy School ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States

The Chinese University of Hong Kong, Shenzhen ( email )

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