Policymakers must regulate fintech to minimize risks, maximize contribution to society

Policymakers and regulatory bodies must formulate regulations to make sure that the fintech sector complies with security standards as well as contributes to society’s greater good. That conclusion was reached by a group of panelists at summit organized by the Indonesian Venture Capital and Startups Association (Amvesindo) and the Ministry of Communications and Information and held at the Bali Nusa Dua Convention Center in Nusa Dua, Bali, from May 9 to 10. The first summit of its kind attracted around 70 local start-ups and around 70 international venture capitalists — from countries such as China, India, the United States, and Singapore.

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