METI Advisory AG invited by BIS to attend BIS Innovation Summit 2023 (March 2023)

This period is a critical one for global cryptofinance regulatory policy, and I am glad to be invited to attend in person, in a senior industry executive capacity, the 2-day BIS Innovation Summit on 21-22 March 2023.

We will discuss, assess, and debate with global policymakers, topics including:

➡ lessons from cryptowinter,
➡ trends, risks, benefits, of digitalfinance innovation,
➡ CBDCs,
➡ challenges in XB payments,
➡ stablecoins,
➡ digitalidentity.

We will also learn from all projects current being pursued by the BIS Innovation Hub.

Over the few recent months,

???? the G20 have reportedly worked on building an international consensus over crypto regulatory policy. This should materialise, later this year, in the issuance by the FSB of regulatory recommendations for cryptoassets and stablecoins, in particular.

???? Allegedly, the BIS has focused on shaping cryptoregulation, continuing to analyse cryptoasset macro risk management options and experimenting with CBDCs.

???? The key influencing jurisdictions (such as US and its federal regulators, EU) have made headlines with pronouncements around the urgency of stepping up cryptoregulation, including by imposing stricter licensing requirements for cryptofinance businesses, in the context of an ideal uniformity on a global scale and consistency across asset classes.

???? The BCBS has issued final prudential rules for banks’ exposures to cryptoassets, which is being included in the EU-level legislation.

In terms of fundamental outlook, my working hypothesis is that the current financial and banking regulatory perimeter will be increasingly, step-wise, inexorably, extended to cryptofinance.