Global big tech regulation needed, says BIS paper

Researchers advocate for an activity-based approach as big tech overtakes fintech in some economies

BIS with flags
Dan Hinge

The Bank for International Settlements’ working paper Big techs in finance published on October 16 advocates for activity-based regulation and a co-ordinated global approach to protecting consumers. 

Activity-based regulation of big tech is a good starting point, the researchers propose. Activity-based regulation constrains specific systemically important activity. In contrast, entity-based regulation constrains the combination of activities on an entity’s balance sheet. 

In countries such as

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