EU Tech Rules Must Mirror Global Norms, Banking Body Says

Law360, London (September 14, 2020, 7:06 PM BST) -- European Union draft rules must be in accordance with global standards for artificial intelligence, cryptoassets and other new technologies, a trade body representing banks and investment businesses said in a paper published Monday.

New technologies will help create innovative financial products, and when regulated appropriately, can support stronger capital markets infrastructures, the Association for Financial Markets in Europe said.

AFME's technology unit said a European framework "fit for the digital age" should be based on global standards in order to properly lessen risks and support the competitiveness of the EU.

European regulatory developments pertaining to innovative technologies should be consistent with...

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