BOJ Governor Kazuo Ueda warns of potential risks to financial system stability from Asia's rapid digital finance growth.
Bank of Japan (BOJ) Governor Kazuo Ueda warns that Asia's rapid digitalisation of finance could pose new risks to financial system stability. The spread of digital financial services in the Asia-Pacific region, while enhancing financial inclusion, also requires policymakers to manage cyber-security risks and strengthen anti-money laundering regulation. Ueda emphasised the need for a balance between the benefits and costs of financial innovation.
March 06, 2024
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