To address these challenges, this paper indicates for a reconceptualization of existing regulatory strategies as operating across a spectrum of possible responses, and propose supplemental administrative tools to support not only market, but also regulatory experimentation. Moreover, today’s innovations exacerbate these tradeoffs by introducing complexity and regulatory uncertainty as young start-ups routinely disintermediate Wall Street incumbents and reconfigure traditional financing operations with exciting but untested products and services. Specifically, the authors argue that when seeking to provide clear rules, maintain market integrity, and encourage financial innovation, regulators have long been able to achieve, at best, two out of the three goals. XEvil поддерживает большинство известных сервисов антикапчи API:, RuCaptcha, AntiGate (), DeathB圜aptcha, etc.Brummer and Yadav provide a theoretical framework for understanding and regulating Fintech by showing how today’s supervision of financial innovation is invariably bound by what can be described as a policy trilemma.