Regulatory uncertainty has long been one of the key barriers to wider adoption of cryptocurrency and digital assets, slowing down innovation and increasing risks for firms looking to scale. The bull market of 2020 has coincided with increased scrutiny and attention from regulators in most jurisdictions. This increased attention looks likely to grow even more considering the latest Decentralised Finance boom. In 2020, DeFi grew from $700 million by December 2019 to $13 billion at the end of December 2020, and based on industry data has reportedly already hit $40 billion this year.
The regulators are closing in as a result. To help address the combatting of the financing of terrorism (CFT), the Financial Action Task Force (FATF) has updated its Travel Rule of Recommendation 16, meaning that creators and beneficiaries of all digital fund transfers should exchange descriptive information (implying a systemisation of information-exchange protocols). The European Commission is currently in the process of negotiating a new Markets in Crypto-Assets Regulation (MiCA) on crypto-assets, which would bring substantially all crypto-assets within the perimeter of EU financial services regulation. The U.S. Senate also briefly considered broadening the definition of a “broker” for crypto tax reporting purposes in its $1 trillion Infrastructure Bill (though this was dropped at the last hour).
The forthcoming Coinscrum Institutional Web Summit, taking place on 21st September 2021, will assemble key industry leaders to debate the biggest talking points in crypto: maturation, governance and regulation, latest challenges and opportunities, and infrastructure and technology developments. Participants will hear from exchange operators, leading liquidity providers and regulatory experts on the following topics:
- How the cryptoasset industry has matured on the issue of liquidity, and how it compares to traditional finance
- How market infrastructure support services, such as custody, lending, clearing and prime brokerage, have opened up broader market access
- The latest regulatory trends in crypto, and what companies need to be doing to stay compliant and one step ahead of the game
- The upcoming DeFi trends for 2021/22
Join us to discuss the four central issues of institutional crypto trading: liquidity, market infrastructure, regulation, and DeFi at the Coinscrum Institutional Web Summit on 21st September 2021, as a highly curated, free to attend, invitation-only online event built on the strengths of the Coinscrum community.
