In recent months, however, there has been a notable increase in the risks connected with the United States’ protectionist policies and with disagreements on various fronts in relations between EU countries.
The suggestion is to adopt an approach that is technology-agnostic or neutral, and to focus on financial service activities. In the BCBS report, it is suggested that while bank supervisors must remain focused on ensuring the safety and soundness of the banking system, they may wish to consider ways of executing their mission without unduly hampering beneficial innovations in the financial industry.