By: Nana
Appiah Acquaye
AfricaNenda Foundation has
called for a balanced regulatory approach as artificial intelligence, digital
currencies, stablecoins and tokenised assets rapidly reshape the global
payments landscape.
The call was made by
AfricaNenda Deputy Chief Executive Officer Sabine F. Mensah during a panel
discussion titled “The Regulatory Conundrum” at the Currency Research Central
Bank Payments Conference in Istanbul.
Mensah said financial
stability, security, competition and inclusion remain central priorities for
regulators, while policymakers must increasingly reconcile innovation with
financial stability and changing geopolitical realities.
The panel brought together
Mensah, Ajmal Ahmady, Amira Karim, Simran Singh, Nicole Sandler and Mike
Gallaher to examine how the role of central banks is evolving amid rapid
changes in payments and financial technology.
The discussion highlighted
how payments now sit at the intersection of technology, economics and
geopolitics, creating new regulatory challenges for central banks and financial
authorities.
Artificial intelligence,
digital currencies, stablecoins and tokenised assets are developing at a faster
pace than previous waves of financial innovation, while concerns around
national sovereignty and resilience are becoming increasingly important.
For regulators in Africa and
other regions, the developments create a complex balancing act between
encouraging innovation and ensuring financial stability, consumer protection,
competition and resilience.
Mensah said regulators must
consider these factors simultaneously as they develop frameworks for emerging
payment technologies and digital financial services.
