However, not all innovations are good and not all innovations are done well.15 We must be able to harness the benefits of innovation while also mitigating the risks. As you all know, we do not operate in isolation, so being strategic, engaged and influential in Europe is a critical priority.
Regulations such as MICA, which will deal with Markets in Crypto-Assets, and DORA, the Digital Operational Resilience Act are good examples of cross-border regulations aimed at protecting businesses and consumers from some of the risks associated with digitisation. But they will directly affect a lot of firms operating in Ireland.