The first “Frontier Fintech Summit 2019” event was held in Ulaanbaatar on May 9-11, 2013, in cooperation with the Ministry of Foreign Affairs, Financial Regulatory Commission, and the Mongolian federation association, under the theme “Fintech Innovation in Emerging Markets”.
During this event, participants exchanged information on the current situation of rapidly growing financial technology in the world and how we are developing in our country and discussing the problems of developing fintech. “Frontier Fintech Hackathon” held on the 9th of May, Round Table Discussion on Frontier Fintech Summit – Policy & Regulation on the 10th of May at Ministry of Foreign Affairs, and Frontier Fintech Summit held in the Shangrila Hotel Conference.
The conference was attended by entrepreneurs in the field of fintech, business leaders of Mongolia, policymakers, skilled professionals and investors, and focussed on fintech developments, good examples and solutions, and expanded their cooperation. For example, a member of Congress of the Brazilian Republican David Soares, Executive Director of “Input Output” Hong Kong, Charles Hoskinson, and CEO of “Truss Chain Korean”, Han Sanwoo.
Present at the opening of the Frontier Fintech Summit- Policy & Regulation roundtable discussion at Ministry of Foreign Affairs, Dr. S.Davaasuren, Chairman of the FRC, led the first discussion and exchanged views with participants. In the context of the “Electronic Economics Coordination and Information Technology Association”, N.KHuderchuluun, Head of Risk Analysis and FRC, participated in the discussion. In addition, the FRC Supervision Department Kh.Bilguun participated in exchanging opinions on the topic “Risk Management and Computing”.
At the event, representatives of government agencies came to talk about lack of policy and regulatory environment in the sector and expressed their position on the necessary legislation and regulation, and the Financial Regulatory Commission announced that it would be able to pass the Sandbox methodology in the International Coordination framework in 2019.