Policy gaps are areas where existing regulations or governmental guidelines do not adequately address new developments, technologies, or market practices. These lacunae can create uncertainty, opportunities for regulatory arbitrage, or unaddressed risks within a financial system. Identifying and closing these gaps is a primary objective for policymakers seeking comprehensive oversight. They represent challenges to effective governance.
Context
In the rapidly evolving digital asset space, policy gaps are frequently reported as a significant challenge for regulators attempting to oversee crypto-asset activities. News articles often discuss how the absence of clear rules for decentralized finance or stablecoins leads to calls for new legislation. International bodies like the Financial Stability Board work to identify and recommend solutions for these gaps to promote global financial stability.
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