Fintech needs new regulatory framework, says Mizuho chief
New technology creates fresh risks, which require supervision, says Sato
The emergence of new financial technology such as blockchain offers "huge potential" to the financial sector, but legal and regulatory issues need to be resolved to ensure the safety of existing financial infrastructure, according to the head of Japan's Mizuho Financial Group.
Yasuhiro Sato, president and group chief executive of Mizuho, said the rise of fintech was part of a "fourth industrial revolution", set to bring dramatic change to industry practices and the types of firms involved in the
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