The Oxford Handbook of European Regulation and Supervision of Digital Finance

Erscheinungsjahr 2027
ISBN: 978-0-19-895214-5
Verlag: Oxford University Press

Buch, Englisch, 720 Seiten, Print PDF, Format (B × H): 171 mm x 246 mm

Digital technology is reshaping finance at a remarkable speed. Artificial intelligence, blockchain, decentralized finance, crypto-assets, stablecoins, and the Central Bank Digital Currencies are changing how financial markets operate. New entrants are challenging established players, services are being delivered in new ways, and risks are emerging that do not fit within existing rules or national borders. The Oxford Handbook of European Regulation and Supervision of Digital Finance analyses how the European Union is responding. The volume brings together 30 contributions from academics, regulators, supervisors, and industry practitioners to provide a comprehensive picture of digital finance in Europe.

The Handbook is organized into four parts. Part I looks at the major trends transforming banking and finance, from data-driven business models and generative AI to cybersecurity and the rise of crypto markets. Part II walks through the EU's new rulebook, including DORA on operational resilience, MiCAR on crypto-assets, the shift from open banking under PSD2 toward open finance under FIDA, the Digital Markets Act, and the AI Act. Part III turns to supervisory work, asking how Europe's authorities are adapting and working together. Part IV offers practical case studies of how national authorities are using new supervisory technologies to improve their daily work. The result is a key reference for policymakers, regulators, academics, industry professionals, and students seeking to understand where European finance is headed.

Autoren/Hrsg.

Weitere Mitwirkende

Beck, Thorsten

Schlosser, Pierre

Guagliano, Claudia

Sciascia, Giuseppe

Bilotta, Nicola

Lauridsen, Nico

Inhaltsverzeichnis

- Front Matter

- Contributor Biographies

- Glossary

- 1: Pierre Schlosser, Thorsten Beck, Nicola Bilotta: Introduction

- Part I Digitalisation in Banking and Finance: Trends, Risks, Opportunities

- 2: Thorsten Beck, Laura Macchioni, Lorenzo Moretti: Financial Innovation and Economic Growth: A Historical Perspective

- 3: Branka Hadji Misheva, Lucia Gomez: From Technology to New Business Models: The Role of Data in Digital Finance

- 4: Louis Bertucci, Thorsten V. Koeppl: Blockchain and Decentralized Finance (DeFi)

- 5: Raffaella Calabrese, Nikolas Passos: AI in the Financial Sector

- 6: Jill Lagos Shemin, Gabrielle Inzirillo: A Global Perspective: Regulatory Enablers and Market-Driven Innovation as a Continuum Across Jurisdictions

- 7: Rachel Nam: Fintechs, TradFi, and BigTech

- 8: Anna Wallace: Global Risk in Digital Finance

- 9: Klaus Löber, Michael Micheli, Emran Islam: Cyber Risk and Resilience

- 10: Nicola Bilotta, Gabriel Bizama, Maria Demertzis: Digital Finance and Its Geoeconomic Relevance: An EU Perspective

- 11: Huda Ismail: Combating Money Laundering and Sanctions Evasion in the Crypto Ecosystem

- 12: Caroline Malcolm: International Coordination on Digital Finance

- Part II Regulating Digital Finance in the EU

- 13: Claudia Guagliano: From the Fintech Action Plan to the EU Digital Finance Strategy and Beyond: A Decade of Digital Finance Regulation in Europe

- 14: Leonardo Giani, Raymond Kleijmeer: The Digital Operational Resilience Act (DORA): Main Drivers, Contents, and Challenges

- 15: Maha Abbassi: DLT Pilot Regime, Crypto-Assets and the Markets in Crypto-Assets Regulation (MiCAR)

- 16: Raphael Lemahieu: From Open Banking to Open Finance: Financial Data Access Regulation (FIDA)

- 17: Oscar Borgogno, Antonio Manganelli: Regulating BigTechs in Europe: The Digital Markets Act and Beyond

- 18: Giulia Schneider: The AI Act in Financial Markets: Regulatory Synergies and Governance Perspectives

- 19: Paolo Giudici: SAFE AI in Europe

- 20: Pierre Schlosser: The Contested Introduction of a Digital Euro in Europe

- Part III Supervising Digital Finance: Objectives, Challenges and Instruments

- 21: Elena Brannetti: Role of European Supervisory Authorities in Supervising Digital Finance

- 22: Cristina Iudice: NCAs and Supervisory Convergence in the Context of New Legislation to Implement at National Level (e.g. MiCAR and DORA)

- 23: Pascale Lamb, Grigory McKain: The Role of Supervision in Facilitating Financial Innovation

- 24: Nicola Bilotta, Nico Lauridsen, Pierre Schlosser: Supervisory Convergence and Capacity Building in the Digital Age: A Case Study of the EU Supervisory Digital Finance Academy

- 25: Giuseppe Sciascia: Challenges in Supervising Digital Finance and Cooperation With Regulators Outside the Financial Sector

- Part IV SupTech Applications in Practice: Case Studies

- 26: Arinna Brina, Nico Lauridsen, Samir Kiuhan-Vásquez: Biological Anatomy of SupTech in the EU: Challenges and Future Development

- 27: Olaf Gerritse, Frans van Bruggen, Iman van Lelyveld: UUse Case: How Technology Is Changing Daily Supervision and NCA Organization

- 28: Marine Krasovska: Hub-and-Spoke Model for SupTech Development

- 29: Daniela Schackis, Konstantin Bottenberg: Approaches, Development, and Challenges of GenAI in SupTech

- 30: Maha Abbassi: A Recipe for a Tool to Support Proactive Adaptation to Change in Regulated Industries: A Shared Use Case for Compliance and Supervision

- 31: Luigi Borrelli, Sotiris Papiotis: Use Case of Application: SupTech Approach for Supervision of Credit Rating Agencies at ESMA

- 32: Valentina Cappa, Livia Blasi: Use Case of Application: Bank of Italy

- 33: Jimmy Hollén: Use Case of Application: Swedish Financial Supervisory Authority (Finansinspektionen)

- 34: Isabelle Meau, Brigitte Vandevelde, Durieux Jeffrey, Laloire Maxime-Edouard: Use Case of Application: The National Bank of Belgium's Prudential QandA Chatbot

- 35: Dawit Meskel, Atilla Okten, the European Banking Authority: Harnessing the Power of the Public Cloud for Supervisory Good

- 36: Claudia Guagliano, Nico Lauridsen, Giuseppe Sciascia: Conclusion

Über Autor(innen)

Thorsten Beck is Director of the Florence School of Banking and Finance and Professor of Financial Stability at the European University Institute. He is co-chair of the Advisory Scientific Committee of the European Systemic Risk Board (2023-27) and a research fellow of the Centre for Economic Policy Research and the CESifo.

Pierre Schlosser is Assistant Professor of Political Economy and Deputy Director of the Florence School of Banking and Finance, which is part of the Robert Schuman Centre at the European University Institute.

Claudia Guagliano is ESMA's Head of the Consumer, Sustainability and Innovation Analysis Unit, chair of ESMA's Investor Trends and Research Working Group, and rapporteur of ESMA's Risk Standing Committee.

Giuseppe Sciascia is Deputy Head of Unit for "Italy" within the European Commission's SG REFORM, overseeing the implementation of the Italian Recovery and Resilience Plan.

Nicola Bilotta is Coordinator of the EU-Supervisory Digital Finance Academy at the Florence School of Banking and Finance. He is also Economic Fellow at GLOBSEC and Associate Fellow at the Istituto Affari Internazionali.

Nico Lauridsen is Research Fellow at the Florence School of Banking and Finance at the European University Institute (EUI). He is also Scientific Coordinator of the EU Supervisory Digital Finance Academy, a member of the data in insurance expert group at EIOPA, and Visiting Economist at ESMA.