TLDR:
- Fintech experts emphasize the need for a cohesive regulatory framework that evolves with technological advancements.
- The conference, Harmony in Digital Finance and Legal Perspectives, highlighted the challenges and opportunities brought by digitalization in finance.
The two-day international conference in Chennai discussed the importance of aligning laws with the rapidly advancing landscape of fintech and digitalization. Experts highlighted key points such as:
The integration of digital finance transactions with legal security was emphasized by V Venkatesan, who traced the evolution of digital finance from the 1960s to the current internet era. C Paramasivan discussed the transformative impact of digital currencies and the need for laws to address fraud and scams in the fintech sector.
V Appa Rao and AMM Mustafa underscored the necessity of a regulatory framework that adapts to technological changes, while S Muralidhar delved into artificial intelligence, cyber threats, and government initiatives in the digital finance space. The discussion also touched on the convergence of technology and finance, creating both opportunities and legal challenges.
India’s goal of becoming a developed country, focusing on agriculture, industry, and the digital sector, was highlighted by S Theenathayalan. The country’s digital transformation, driven by artificial intelligence and machine learning, has revolutionized transactions, communication, and online payments according to K Sadasivam and C Paramasivam.
Ethical behavioral finance and the importance of ethical legal practices in the digital era were discussed by K Nagavani, emphasizing the need for balance and harmony in financial transactions. The conference shed light on the evolving landscape of fintech and emphasized the crucial role of regulatory frameworks and legal talent in shaping the future of digital finance.
