Track record easing refers to a reduction in the stringent requirements or reliance on an extensive historical performance record for entities seeking to operate within regulated financial sectors, particularly in novel areas like digital assets. This might involve regulators adapting rules to accommodate new technologies or business models that do not fit traditional precedents. It aims to facilitate innovation by lowering barriers for new participants. This adjustment acknowledges the evolving nature of financial markets.
Context
News often reports on regulatory bodies considering track record easing for digital asset firms, recognizing that many innovative blockchain projects lack the multi-year operational history of traditional financial institutions. This discussion is central to balancing regulatory oversight with fostering innovation in the crypto space. Policies that provide a more flexible approach to assessing new entrants can significantly influence the growth and development of the digital asset industry.
The SFC's pivot to permit global order book sharing and ease product distribution standards strategically unlocks institutional liquidity and market depth for licensed VASPs.
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