Ecosystm and Bitstamp, conducted an invitation-only Executive ThinkTank at the Point Zero Forum in Zurich. A select group of regulators and senior leaders from financial institutions from across the globe came together to share their insights and experiences on Decentralised Finance (DeFi), innovations in the industry, and the outlook for the future.
Here are the 5 key takeaways from the ThinkTank.
- Regulators: Perception vs. Reality. Regulators are generally perceived as having a bias against innovations in the Financial Services industry. In reality, they want to encourage innovation, and the industry players welcome these regulations as guardrails against unscrupulous practices.
- Institutional Players’ Interest in DeFi. Many institutional players are interested in DeFi to enable the smooth running of processes and products and to reduce costs. It is being evaluated in areas such as lending, borrowing, and insurance.
- Evolving Traditional Regulations. In a DeFi world, participants and actors are connected by technology. Hence, setting the framework and imposing good practices when building projects will be critical. Regulations need to find the right balance between flexibility and rigidity.
- The Importance of a Digital Asset Listing Framework. There has been a long debate on who should be the gatekeeper of digital asset listings. From a regulator’s perspective, the liability of projects needs to shift from the consumer to the project and the gatekeeper.
- A Simplified Disclosure Document. Major players are willing to work with regulators to develop a simple disclosure document that describes the project for end-users or investors.
Read below to find out more.
Download Pathways for Aligning Innovation and Regulation in a DeFi World as a PDF
A partner event of our annual flagship Singapore FinTech Festival, Point Zero Forum represents a unique collaboration between Elevandi (an entity set up by MAS), and the Swiss Secretariat for International Finance (SIF), organised in cooperation with the BIS Innovation Hub, Monetary Authority of Singapore, and Swiss National Bank. The inaugural Forum will be graced by Singapore’s Deputy Prime Minister, Heng Swee Keat, Switzerland’s Federal Councillor and the Head of the Federal Department of Finance, Ueli Maurer, as well as leading CEOs (UBS, Julius Baer, Six Group); and innovative founders (FTX Group, wefox). The Forum will serve as the starting point for engaging investors and policymakers with innovators to advance the future of financial services (FOFS).
This invite-only forum aims to bring together investors, influencers, thinkers and decision-makers from the public and private sector to exchange ideas, share knowledge, develop a network, with the purpose of:
- Developing new ideas to advance the FOFS – decentralised finance and Web 3.0, embedded finance and sustainable finance.
- Driving investment activity by bringing together leading founders with VCs, private banking clients, family offices and PE houses
- Dissecting regulatory considerations related to each FOFS development by bringing together public and private sector leaders
Three days of in-depth plenary sessions, deep-dive private roundtables and workshops, and exclusive sessions will focus on significant new market opportunities built on Web 3.0 architecture (June 22) – Tokenisation (June 23) and Sustainable Finance (June 23).
Ecosystm ThinkTank: Aligning Innovation and Regulation in a DeFi World is a moderated, closed-door and confidential dialogue for a very limited number of hand-selected participants.
DeFi is increasingly becoming an area of focus for innovators and regulators globally, particularly as it develops alongside highly regulated areas of the economy – and this will be an opportunity to discuss how regulatory principles can be preserved within this ground-breaking sector.
To keep you informed on “what’s next” for this space, the agenda will consist of:
The development of DeFi protocols and their benefits to the wider financial system.
Retail consumer protection and regulatory jurisdiction.
Understanding the obligations and the role of centralised regulated exchanges.
Thinking beyond travel rule for crypto into other areas of emerging risks.
To keep the discussion focused, we are limiting participation to just ten persons from the organisations responsible for
building and regulating this ecosystem. We would be delighted if you could join us for this very important event.