Share page with AddThis


Industry association calls for regulatory clarity on digital assets

Regulations digitalAn annual survey of its members by industry association Global Digital Finance (GDF) has put a lack of regulatory clarity as the greatest challenge facing the digital assets market.

Furthermore, it is the third year in a row that regulatory clarity has emerged as the top concern among digital asset practitioners.

The finding led GDF executive co-chair Lawrence Wintermeyer to call on policymakers and agencies to engage more with the industry.

Wintermeyer called for the adoption of a so-called “co-regulation model” which he describes as a “stewardship platform thaty sits in between the industry and regulators”.

The GDF has also stat6ed that the survey results support agencies call for a global crypto and digital assets framework on 2022 and greater cross-border coordination between regulators.

“Already in 2022, we are witness to an increasing focus on policy and regulation for the crypto and digital assets sector with banking, securities, and tax laws as they may apply to stablecoins, decentralized finance, non-fungible tokens, and cryptocurrencies, including the on-going requirements for adherence to KYC/AML/CFT regimes,” stated the GDF. “The priority now is greater than it has ever been for a measured approach, in accordance with regulator’s priorities and objectives, to global policy and regulations.”

©2022 fundsTech

Most read features

Cryptocurrencies: Solving crypto’s sustainability problem

Cryptocurrencies like bitcoin have a huge carbon footprint but, as Nicholas Pratt discovers, environmentally friendly alternatives exist.

Roundtable: The digital transformation opportunity

The funds industry is looking at adopting new types of technology, from automation to ESG reporting, blockchain and tokenisation. A FundsTech roundtable in March explored how these will revolutionise the sector.

Proxy voting: Making every vote count

With stewardship more important than ever and digital technology to the fore, surely it is time to solve the problem of proxy voting? Nicholas Pratt investigates.

Interview: Rise of the robo-adviser

FundsTech talks to Nutmeg’s CTO, Matt Gatrell, about the role of technology in its online offering.

Regulation: Panel calls for simplicity in ESG reporting

The industry accepts the need for more rigour in ESG fund reporting, but the work will be pointless if investors don’t understand the end result. Nicholas Pratt reports.

Sponsored Profiles

Data consolidation takes centre stage in asset management M&A

MergersConsolidation between asset management firms is overwhelmingly expected to increase. Operational challenges remain thanks to legacy systems. But in a recent...

Are you being microserved?

As asset managers grapple with new digital technology, FundsTech talks to Calastone’s Adam Belding about the importance of software architecture and the benefits...

Sponsored profile: A question of trust

AcrobatsAs more firms adopt agile software development practices, Petra Roche of Metrosoft explains why trust is so important in making agility work.

Sponsored feature: Compliance and the case for agility

CheetahFundsTech talks to Janusz Lorenc, CEO of Metrosoft, about asset managers’ approach to compliance risk and the case for agile software development.