The goal is always to provide efficient but safe services 2/5  BIS central bankers' speeches  for households and businesses. Regulation should facilitate this and not be an impediment. It can help reap the benefits available from new technologies.
Comparison with regulatory development in telecom and payments As a background, it can be useful to look at another industry that has experienced a similar change not too long ago. The telecommunication industry went through such a process in the early 2000s. In Europe, one of the most important steps was to unbundle services from infrastructure.