TY - BOOK ID - 137671964 TI - Keeping Pace with Change: Fintech and the Evolution of Commercial Law. PY - 2022 SN - 1616358807 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Commercial law . KW - Fiscal policy. KW - Artificial intelligence KW - Banking law KW - Blockchain and DLT KW - Blockchains KW - Central banks KW - Computer applications in industry & technology KW - Corporate & business tax KW - Corporation and Securities Law KW - Currency crises KW - Databases KW - Diffusion Processes KW - Distributed ledgers KW - Economic & financial crises & disasters KW - Economic sectors KW - Economic theory KW - Economics of specific sectors KW - Economics KW - Economics: General KW - Emerging technologies KW - Financial administration & public finance law KW - Financial institutions KW - Financial instruments KW - Financial services industry KW - Financial services law & regulation KW - Foreign Exchange KW - General Financial Markets: General (includes Measurement and Data) KW - Government and the Monetary System KW - Industries: Financial Services KW - Industries: Information Technololgy KW - Informal Economy KW - Informal sector KW - Information technology industries KW - Innovation KW - Intellectual Property Rights: General KW - Intelligence (AI) & Semantics KW - Internet: General KW - Inventions & inventors KW - Inventions KW - Investment & securities KW - Investments: General KW - Law and legislation KW - Macroeconomics KW - Monetary Systems KW - Nonbank financial institutions KW - Payment Systems KW - Regimes KW - Regulation and Business Law: General KW - Research and Development KW - Securities KW - Smart contracts KW - Standards KW - Technological Change KW - Technological Change: Choices and Consequences KW - Technological innovation KW - Technological innovations KW - Technology KW - Underground Econom KW - Liechtenstein UR - https://www.unicat.be/uniCat?func=search&query=sysid:137671964 AB - This note explores the interactions between new technologies with key areas of commercial law and potential legal changes to respond to new developments in technology and businesses. Inspired by the Bali Fintech Agenda, this note argues that country authorities need to closely examine the adequacy of their legal frameworks to accommodate the use of new technologies and implement necessary legal reform so as to reap the benefits of fintech while mitigating risks. Given the cross-border nature of new technologies, international cooperation among all relevant stakeholders is critical. The note is structured as follows: Section II describes the relations between technology, business, and law, Section III discusses the nature and functions of commercial law; Section IV provides a brief overview of developments in fintech; Section V examines the interaction between technology and commercial law; and Section VI concludes with a preliminary agenda for legal reform to accommodate the use of new technologies. ER -