"The nature of the regulatory response to FinTech is a
critical topic for both regulators and market participants. The
challenge is to identify when the regulator should step in - the
regulatory 'tipping point' between allowing innovation to
develop without regulatory intervention and taking regulatory
initiatives. Malta's evolving approach towards Fintech is one
that aspires at tapping the significant benefits, including cost
reductions, efficiency gains and more transparency, while allowing
these technologies the space to grow," said the Finance
Minister Edward Scicluna while addressing the
Fintech Conference organised by KPMG.
He stated that we must achieve a delicate balance between
fostering innovation and supporting the pursuit of opportunities
associated with financial technology, while at the same time
safeguard consumer protection and address any risk that may emerge
from the rapid rate of expansion of the financial technology
industry. This will be our key
