This Article shows that fintech exacerbates the difficulties of standard setting in international financial regulation. Earlier work introduced the “Innovation Trilemma” (the Trilemma). When seeking to balance the goals of achieving market integrity and innovation through clear and simple...

An increasingly common response by regulators to what they view as undesirable market trends or challenges has been a sharp turn towards litigation to introduce novel legal theories and frameworks that could have been the product or subject of legislative or administrative rulemaking. The...