Research On Legal Supervision Financial Technology

With the continuous evolution and development of financial technology,many new financial forms have emerged.At the same time,a variety of cross-border and cross-cutting financial products have emerged.In the process of its development,various financial risks,even systemic financial risks,have arisen.How to deal with the new regulatory challenges arising from financial technology has also attracted the attention of international financial regulatory organizations.The "regulatory sandbox" used by Britain,Australia,Singapore and other countries is currently the most popular means of supervision in the world.Because of the limitations of regulatory sandbox itself and the relative weakness of China's financial development system,China has not adopted this regulatory model.China's domestic financial situation,encouraging financial innovation,created a "penetrating supervision".Due to the separate supervision of China's financial industry,the characteristics of financial technology and the lag of existing laws and regulations,penetrating supervision has achieved some results,but it can not completely curb illegal financial crimes.Illegal activities such as "bare lending" and violent debt collection of P2 P online lending platform have bad social impact;the supervision mechanism of third-party payment institutions is imperfect;the risks of "money laundering" and "cash-taking" still exist;although the subject of supervision is clear,it occurs from time to time in substantive supervision activities such as "vacuum supervision" and "touch supervision";Under the background of financial science and technology,mixed operation and borderless finance have been formed slowly.How to build a regulatory model based on the characteristics of financial science and technology,which can not only guarantee our financial science and technology to remain at the forefront of international innovation,but also avoid financial risks,is the biggest bottleneck in the current development of financial science and technology.It is too early to legislate separately for financial science and technology because it is still in the stage of development.We can only learn from international experience,participate in international cooperation and improve our existing laws and regulations in order to cope with the lag of financial science and technology legal supervision.