For whom the crypto bell polls Regulation Update Elise Soucie‘s monthly column will cover policy and consultation updates from around the world, as well as the latest digital innovations in institutional markets. In just two weeks, the UK will have an election that is anticipated to shift the political balance of power, but will also likely have a wide-ranging impact on the nations [...]
Raising the Stakes – The UK’s Incoming Rules for DeFi & Staking Regulation Update Over recent months Economic Secretary to the Treasury Bim Afolami has continued to champion the UK’s commitment to building staking regulation. But what is staking and why has it come to the forefront now?
FATF & Furious – Preparing for Travel Rule Implementation Regulation Update After the recent Financial Action Task Force (FATF) meetings in Vienna and Paris, the crypto and digital asset industry has continued their furious preparation for travel rule compliance. The rule finds its origins in a 1996 rule from the Financial Crimes Enforcement Network (FinCEN) which required all financial institutions to pass on certain information to the next financial institution when there was a transmission of funds involving more than one financial institution.
The Sandbox: Building a Tech Friendly Regime for a Growing Crypto Industry April 15, 2024 On April 3rd, the Bank of England and FCA jointly published a consultation which marked the next step in opening a Digital Securities Sandbox (DSS) in the UK. The DSS is key to supporting responsible innovation in the UK. It allows market participants to try out new business models that are not yet permitted under current regulations, while simultaneously enabling regulators to identify where legislation and policies may need to change.
E.T.? March 25, 2024 The surge of institutional interest in digital assets and blockchain technology over recent months shocked many after last year’s crypto meltdowns. But the U.S. Securities and Exchange Commission's (SEC) January approval of bitcoin exchange traded products (ETPs), the FCA’s recent update and approval of cryptoasset-backed Exchange Traded Notes (cETNs) for professional investors, BlackRock's bitcoin exchange traded fund (ETF) hitting the $10 billion mark faster than any other in history, and now their SEC filing last week for the USD Institutional Digital Liquidity Fund to invest in tokenised assets, all mark a milestone in the evolution and wider adoption of Web3 technology across financial services.
Dial R for Regulation March 11, 2024 2023 saw more publications and developments in global policy and regulation for digital finance than any previous era in financial regulation. Jurisdictions are racing to build their frameworks to attract new capital, talent, regulated firms, and innovative business models.
