Cheng-Yun Tsang 臧正運

Research & Intellectual Themes

---

Regulation when technology outpaces theory

My core question is what law and regulation must become when technological change threatens to outrun the paradigms built to govern it — forcing a fundamental rethinking of regulatory theory and practice, not just discrete compliance fixes.

From sandbox to a reimagined regulator

Across work on regulatory sandboxes, RegTech and SupTech, I argue that supervisory technology is not merely a tool of efficiency but an enabler that redefines the role of the regulator itself, toward new public–private models of oversight.

Digital assets, tokenisation and the money question

I chart legal pathways for cryptoassets, stablecoins and the tokenisation of real-world assets, and examine central bank digital currencies through privacy, central-bank independence and cross-border spillovers — asking whether they fragment or harmonise the global financial order.

Data, open banking and AI governance

I study how institutions should govern data as fiduciaries under open banking, and how boards and regulators exercise accountability as artificial intelligence enters supervision and corporate governance.

Inclusion, sustainability and the global order

A concern with financial inclusion and social justice, the regulatory implications of ESG and sustainable finance, and how regulatory innovation diffuses across the Asia-Pacific runs throughout my scholarship.

Contributions

---

Frameworks regulators can use

I have built practical instruments — a regulatory diagnostic toolkit for digital financial services, analytical frameworks and roadmaps for SupTech, and system frameworks for designing digital-finance regulation.

Bridging academia, industry and policy

Beyond publishing in leading journals, I have advised legislators, regulators and industry across Taiwan, Australia and Asia, and delivered keynotes for institutions including the Bank for International Settlements, the SEACEN Centre, and Taiwan’s central bank and FSC.

Building institutions

I have founded and led research centres and now chair the inaugural Task Force on Technological Innovation under Taiwan’s FSC, securing over AUD 2.4 million in competitive and industry research funding.

How I Work — Dialogue & Leadership

---

Dialogue between ideas and decisions

I care most about building bridges between scholarship, industry and policy — creating spaces where rigorous ideas meet real institutional decisions.

Working across disciplines

The hardest questions in finance and technology cannot be answered from a single field; my approach crosses law, management, international relations and technology.

Leadership for an age of uncertainty

I aspire to help leaders navigate complexity not merely with technical mastery, but with clarity, discernment, and the wisdom to exercise power responsibly.