With the deep integration of information technologies such as big data and artificial intelligence algorithms into the financial services industry, the rapid rise of financial technology has been promoted. From a technical perspective, financial technology can optimise the allocation of financial resources and improve financial efficiency, thereby promoting innovation and development in the financial services industry. However, everything has a two-way nature. When financial technology is deeply embedded in the financial services industry, it also reshapes the traditional financial equilateral trilemma. At this time, financial regulation is difficult to achieve the triple goals of financial innovation, market integrity, and rule simplicity at the same time, forming the asymmetrical trilemma of financial technology. That is, financial technology regulation is difficult to achieve the triple goals of financial technology innovation, risk prevention, and rule simplicity at the same time, and the triple goals have unequal value attributes. In the context of the asymmetrical trilemma of financial technology, through theoretical analysis, it is found that overly strict or complex financial technology regulation suppresses the innovation and development of financial technology, leading to a decrease in the benefits of financial technology innovation; while overly loose or simplistic regulation of financial technology is not conducive to preventing financial technology risks, leading to increased regulatory costs for financial technology. Only by adopting moderate financial technology regulation (such as twin peaks regulation) can the innovation and development of financial technology and the prevention of financial technology risks be achieved. By using the comparative analysis method, it is found that most countries (such as the United Kingdom, the United States, Australia, etc.) explore the twin peaks regulatory system from the perspective of financial technology regulatory concepts, goals, and means, achieving the dual peak goal of optimizing financial technology regulatory effectiveness (achieving innovation and development of financial technology, and preventing financial technology risks), and optimizing the simplicity of financial technology rules: transforming regulatory concepts and adopting moderate regulatory concepts; building a twin peaks regulatory system to achieve the dual peak regulatory goals; enriching regulatory measures and adopting legal regulation and technological regulation. In order to solve the asymmetrical trilemma of financial technology and achieve the dual regulatory goals of promoting financial technology innovation and preventing financial technology risks under the constraint of financial technology regulatory resources, China can combine the local financial technology regulatory situation and foreign regulatory experience, and start from the perspective of financial technology regulatory concepts, goals, and means to construct a dual regulatory system in the financial technology scenario, optimize the simplicity of financial technology rules: Firstly, in terms of regulatory philosophy, there has been a shift from segmented regulation to a twin peaks regulatory approach; Secondly, in terms of regulatory objectives, achieving twin peaks regulatory goals through regulatory sandboxes; Thirdly, in terms of regulatory measures, strengthening the dual approach of legal and technological regulation.

financial technology innovation  /  financial technology risk  /  rule simplicity  /  asymmetrical trilemma  /  twin peaks regulationsystem