Great article by Cygnus Law on the future of Fintech in NZ


#1

Some great points made by Simon Papa and lines up with a lot of my own personal opinions. Agree or disagree?

https://cygnuslaw.nz/2017/01/nz-fintech-in-2017-make-or-break/


#2

Disagree.
Where does the EU get the idea (for example with PSD2), that regulation encourages innovation? Maybe Simon, as an apparent supporter, might provide examples.
We’re all impressed with the introduction of “regulation-free sandboxes” [doesn’t this amount to an acknowledgement that regulations stifle innovation?] BUT Mandy Simpson confirmed my understanding that, at the end of the 12 mth window, it seems the full weight [“the dead hand”] of regulations does probably apply. So; what’s the point, I ask?
And for Simon to say Aus’ failure to introduce a realistic crowd funding regime isn’t important… To me this demonstrates their regulators’ lack of enthusiasm for innovations. At last month’s Sydney blockchain conference, a panel member said the ATO effectively said “we don’t care about the consequences” when introducing an adverse ruling around Bitcion trading. I don’t think we’d hear that from, for example, the Singapore Govt.