Trinidad and Tobago: Technical Assistance Report–Technical Assistance on Fintech Regulation and Legislation

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2023 Issue 322

Publication date: September 2023

ISBN: 9798400254437

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Topics covered in this book

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Investments and Securities-General , Money and Monetary Policy , International - Economics , Business and Financial , IMF's MCM , Department mission , authorities of Trinidad and Tobago , private sector entity , request of the Central Bank of Trinidad and Tobago , crypto assets regulation , Virtual currencies , Fintech , Digital currencies , Securities , Securities regulation , Caribbean , Global

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Summary

The impact of fintech in Trinidad and Tobago is currently concentrated in the payments sector. In meeting with firms utilizing fintech, trade bodies, and public authorities, we found that the impact of fintech is not yet broad based and is permeating primarily in relation to e-money and payment service providers (PSP), and more slowly in other areas such as crowdfunding, robo-advice, and crypto assets. While data on the impact of fintech are limited, we use public information, conversations with authorities and market participants, and applications for licensing and outreach for regulatory support as guides, which suggest that fintech remains relatively concentrated.