As stated in the previous chapter, the most pressing issue facing the adoption of technology to address TBTF and the fragmentation of the financial services is the existing regulatory and policy framework. We have also seen that although finance becomes increasingly cashless, the validation and auditing operations of financial firms are still largely dependent on manual and/or archaic processes. However, this operating methodology is attuned to the current regulatory settings and, in part, is the reason for its continued existence. Furthermore, the disconnect between finance and macroeconomics has resulted in the execution of unsatisfactory monetary and fiscal policies that have been unable to adequately address the growing debt of nation-states and have been unsuccessful in detecting, let alone addressing, systemic risks posed by large institutions. Thus, prior to establishing a new framework for a cashless age, we need to determine what are the obstacles and limitations of the current regulatory and policy frameworks.