Fin Tech

The Council of Ministers has approved a decree-law regarding digital financial instruments, also known as FinTech, in order to simplify their circulation and encourage the testing of new technological solutions in the banking, financial and insurance sectors. The text is based on the Regulation (EU), which establishes a pilot regime for market infrastructures based on distributed ledger technology or DLT pilot regime. This type of technology allows transactions relating to financial and digital instruments to be recorded in an archive shared by networked IT devices. The decree-law introduces a common regulation for the circulation of digital financial instruments and provides measures to simplify FinTech experimentation, with the support of the supervisory authorities.