THELOGICALINDIAN - UAE Banks Federation UBF and Abu Dhabi All-around Market ADGM accept abutting armament to host a fintech appointment with a focus on discussing how cryptoassets are alteration the all-around banking casework sector
Judging by an article from Emirates News Agency, it seems as admitting the appointment was actually awash with abundant blockchain and banking-related abracadabra to accomplish anyone in the banking casework area distill — including abundant altercation on regulations, compliance, big data, apparatus learning, and banking surveillance to accomplish anybody feel like they absolutely got their money’s worth.
Also discussed was “how banking regulators and banks can coact to advance processes and procedures to abode authoritative risks in confined bazaar participants operating crypto assets businesses” — admitting the actuality that Bitcoin (BTC), the aboriginal and foremost cryptocurrency, was created to annihilate the charge for accord from regulators and banks.
This actuality is not absent on the forum’s participants, however, as the address claims that “fast-evolving bazaar dynamics beggarly that banks, banking institutions as able-bodied as banking regulators accept an important allotment to comedy to agilely adviser and accumulate beside of such developments, and ensure banking casework abide to accomplish in a able-bodied and trusted way in an more agenda environment.” In layman’s terms, bequest banking institutions don’t appetite to be rendered useless.
AbdulAziz Al-Ghurair, Chairman of UAE Banks Federation, stated:
He additionally added:
Richard Teng, CEO of the Financial Services Regulatory Authority of ADGM, additionally added his two cents by stating:
Notice a theme, here?
What do you anticipate about bequest banking institutions activity the charge to ‘collaborate’ in acclimation the cryptocurrency industry? Let us apperceive your thoughts in the comments below!
Images address of Shutterstock.
