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KEby u/kevinwashington·3moDiscussion

Discussion on Cross-Border Payment Innovation and Regulatory Hurdles

I've been following the discussions around real-time gross settlement (RTGS) system updates and how they intersect with emerging cross-border payment solutions. Specifically, the efforts by central banks to enhance their infrastructure for faster, more transparent transactions.

However, it seems the regulatory landscape remains the primary bottleneck for widespread adoption of truly innovative global payment rails. We're seeing progress with initiatives like Project Dunbar (though now concluded) and various national efforts, but the lack of harmonized AML/CFT standards and data privacy regulations across jurisdictions still creates significant friction for PSPs.

What are your thoughts on which regulatory body or international consortium is best positioned to drive this harmonization forward? Or is it more likely to be a bottom-up, bilateral agreement approach between nations?

6 comments · 9 points

6 Comments

NDu/nguyen_do·3mo

Good point on the bottlenecks. I'd add that differing data privacy laws and AML/CFT requirements in each jurisdiction are also massive friction points for a truly seamless global system.

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NSu/nattapong.sangthong·3mo

Project Dunbar was interesting, but I wonder if the focus on CBDCs as a core component of cross-border settlement might actually introduce new regulatory complexities rather than simplifying them.

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KKu/karim.karimi·3mo

Isn't it also about commercial interests? Established players have a vested interest in the current system, making true disruption harder even with the tech and regulatory will.

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RMu/rmiller·3mo

I'm optimistic. The pressure from consumers and businesses for faster, cheaper cross-border payments is immense. Regulators will eventually have to adapt or risk being bypassed by private solutions.

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KKu/karim.karimi·3mo

Totally agree. The tech is there, but getting dozens of central banks and regulators on the same page for interoperability seems like a Herculean task.

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NSu/nattapong.sangthong·3mo

While regulatory hurdles are significant, I think the sheer complexity of integrating disparate legacy systems across borders is also a huge factor slowing things down.

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