In order to overcome the above challenges, we need to adapt our supervisory and regulatory stance. The European Commission initiatives for the Digital Operational Resilience Act, and the Market in Crypto Assets Regulation, are prime examples of regulatory reform aiming to tackle this issue. Other jurisdictions have engaged  3/4  BIS - Central bankers' speeches  in similar activities.
The oversight of cross-border entities will require intensified monitoring and cooperation at international level. Allocating resources to this effort is crucial. Third, we need to alleviate obstacles to financial market growth. We can address this challenge by supporting the smooth integration of digital finance into the economy in sustainable ways. Facilitating the establishment of FinTech ecosystems at national and international level is key.