Yesterday, the Saudi G20 Presidency and the Bank for International Settlements (BIS) Innovation Hub launched a remote hackathon, the G20 TechSprint Initiative. It aims to come up with solutions for regulatory (RegTech) and supervisory problems (SupTech). One of the challenges is to help with anti money laundering (AML) and counter terrorism financing (CFT) for digital assets or crypto assets.
In addition to the two high profile bodies, the competition is also supported by the Monetary Authority of Singapore (MAS), the Financial Stability Board (FSB), API Exchange (APIX), and the RegTech for Regulators Accelerator (R2A).
“TechSprint encapsulates one of the core principles of the BIS Innovation Hub, which is to develop public goods in the technology space to enhance the functioning of the global financial system,” said Benoît Cœuré, Head of the BIS Innovation Hub.
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