Tagged With regulations

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New cybersecurity laws introduced in China make it harder for global companies to store data pertaining to Chinese nationals. And although cloud providers have set up data centres in countries that require citizen data to remain onshore, Amazon and other providers are taking steps to sell their hardware assets to Chinese companies.

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The use of blockchain in financial services would need to be carefully regulated with access restricted to only approved participants. Institutions should also be required to use "kill switches" to stop computers automatically executing in times of stress. These are some of the recommendations of outgoing chair of IOSCO Greg Medcraft based on concerns from global regulators. In short, blockchains are risky business.