LONDON, Feb 8 (Reuters) – A “rethink” is needed on how to directly regulate the activities of Big Tech companies in financial services given their size and influence, Bank for International Settlements Director General Agustin Carstens said on Wednesday.
“Without a doubt, a regulatory rethink is warranted and we need a new path to follow. One that takes into account the central role of data in the DNA-based business model of big technologies. One that strikes the balance of right balance between benefits and risks,” Carstens said in a speech.
Reporting by Huw Jones; editing by Jason Neely
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