Abstract:Internet finance is the initial stage of the FinTech development,named as FinTech 1.0 stage. The dramatic development of technologies,mobile Internet,big data,cloud computing,artificial intelligence,as well as block chain and their depth and comprehensive application in the financial system,makes FinTech system gradually enter the FinTech 2.0 stage. Compared to Internet finance,FinTech,with essential cross-border implementation,disintermediation effect,decentralization and self-learning,has greater financial resources integration capability and ecosystem construction function and more significant impacts on the financial system. At present,the supervision of FinTech basically stays in the stage of Internet finance regulation,being as a relatively passive regulatory system. How to adapt to the development of FinTech and establish a positive and dynamic regulatory framework is the fundamental mission for China’s financial regulatory authorities. As the international experiences shown,the RegTech and Regulation Sandbox mechanisms are the main approaches to address the potential risks led by FinTech. Based on the comprehensive understand of the FinTech,it is vital to establish a long-term regulation framework,combining the reconstruction of financial regulatory structure,appropriate supervision Regtech,with China’s style Sandbox mechanism,to firmly hold the bottom line of systemic risks and to keep the FinTech system be stable and sustainable.
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