🚀 Chairing the Global Crypto Regulatory Panel at the Web3 Hub Davos on 20 January 2025:
🔥I focused on potential impact of likely Trump-led overhaul of US crypto regulation, benefiting from insights from Evan Auyang (Animoca Brands, Hong-Kong-based, President), Lee Schneider Labs, US-based, General Counsel), and Dominik Hofmann Swiss-based, Legal Partner).
We recognised that:
👉 the regulatory certainty provided in Switzerland remains unique in maturity, comprehensiveness, and reliability (accepting that it needs constant calibration in a private / official dialogue set up),
👉 the EU’s MiCA Regulation is fully applicable since 30 December 2024 (and time will tell),
👉 regulation in Asia has been thriving lately, with HongKong emerging as a leading spot.
👉 Trump’s policy pronouncements and immediate actions (eg SEC, CFTC) may well be the fundaments of a comprehensive and detailed and even rapid overhaul of the crypto regulatory set up in the US. The belief is however that:
👉 on the one hand ‘Rome was not built in a day’, and it will take some time before promising policy pronouncements translate in detailed regulatory frameworks, rule-books, and re-set regulatory bodies;
👉 on the other hand, the global industry will obviously benefit from a crypto / blockchain supportive US jurisdiction providing detailed certainty on the regulatory treatment of all crypto and blockchain business aspects.
👉 In sum, the view is that in a long-term growing industry, players will want to operate and expand, and, in particular, diversify risks, across jurisdictions; and it will take sometimes before the euphoria around Trump’s statements translates into legal certainty for crypto and blockchain entrepreneurs.
