The State of Global Crypto Assets Regulation

About this Event

From the beginning of cryptocurrency introduction, there have been several high-profile failures that have challenged the stability and reliability of using ones and zeros as commercial currency.  The current landscape is fraught with volatility, market, liquidity and financial crime/scam risks, and yet can provide meaningful modernization—and security—in banking, payments and broader financial market infrastructure.

The initial excitement in executing a financial transaction without traditional banking intermediaries has waned.  While there remains benefits for those risk takers that have faith in brand-new currencies and the technologies that are enabling digital assets and web-native services, reinforcing the regulatory and governmental oversight that exists for financial services providers of all types is more essential than ever. It is becoming clear that while governments see value in virtual asset services, they have been waiting for a level of market acceptance—and proactive responsibility in risk, compliance and system integrity—to be established to ensure regulations that are fit and purpose-driven.

The market use of cryptocurrencies has been pervasive enough to garner the attention of major world governments—80+% are researching or implementing currency-backed digital currencies (CBDCs). Several jurisdictions around the world have implemented or proposed regulations specifically addressing crypto assets and markets.

This webinar will survey the global state of regulating crypto asset service providers, focusing on activities taking place both in the United States and the European Union.
During the webinar, Amit Sharma, Founder and CEO of FinClusive will discuss the state of compliance in the United States including “the Rulebook”, a set of Financial Crimes Compliance guidance and practices that are being considered by US Federal Banking Regulators. Ginka Hristova, Principal of ILAC, will discuss the state of crypto regulation in the EU, focusing on the recently ratified landmark regulation, the Market in Crypto Asset (MiCA) Regulation.  Scott Perry, Principal of Schellman’s Crypto and Digital Trust, will discuss what digital asset service providers can do today to prepare for impending regulatory compliant future.