美国金融科技最新立法监管动态及对我国的启示

The Latest Legislative and Regulatory Development of American Fintech and its Enlightenment to China

金融科技有助于降低交易成本、提高市场效率,但同时也因其“空白型金融创新”的特质给传统金融监管方式带来严峻挑战。美国在金融科技的立法方面,强调“建章立制,立法先行”,创制法律规范具有前瞻性;在监管方面,秉持“负责任的创新”的监管理念,创新监管范式,力求实现金融创新与合法合规之间的动态平衡。我国可合理借鉴美国的立法和监管经验,加强金融科技的顶层设计和立法建设,创制新的专门性立法,构建有利于金融科技发展的监管协调机制,研究以行为监管为导向的监管范式,构建包容性监管制度,探索完善中国式“监管沙箱”机制,最终建构“技术驱动型”的金融监管体系。

The development of fintech has become a global trend and fintech is accepted by the mainstream financial market around the world.Fintech helps to reduce transaction costs and improve market efficiency,but at the same time it poses serious challenges to traditional financial supervision methods because of its“blank financial innovation”.In the legislation of fintech,the United States emphasizes that“the establishment of legislation and legislation,the advancement of legislation”,the creation of legal norms is forward-looking;in the aspect of supervision,adhering to the“responsible innovation”regulatory concept,innovative regulatory paradigm,and strive to achieve financial innovation and dynamic balance between legal compliance.China should reasonably learn from the legislation and regulatory experience of the United States,strengthen the top-level design and legislative construction of fintech,create new specialized legislation,build a regulatory coordination mechanism conducive to the development of fintech,study the regulatory paradigm guided by behavioral supervision,and construct inclusive supervision system,explore and ameliorate Chinese-style“regulation sandbox”mechanism.Finally,we shall build a“technology-driven”financial supervision system.