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DeFi prospects and regulatory implications: what way forward? 

DeFi prospects and regulatory implications: what way forward? 

Day 1 Afternoon

Wednesday 07 September

Room :

CONGRESS HALL 1

Speakers

Chair
Iota Nassr
Economist, Policy Analyst - Organisation for Economic Co-operation and Development (OECD)
Public Authorities
Lee Foulger
Director - Bank of England
Martin Moloney
Secretary General - International Organization of Securities Commissions (IOSCO)
Fernando Restoy
Chairman - Financial Stability Institute (FSI)
Joachim Wuermeling
Member of the Executive Board - Deutsche Bundesbank
Industry Representatives
Geoff Kot
Global Head of FM Electronic Trading & Platforms - Standard Chartered Bank
Jennifer Peve
Managing Director, Head of Strategy and Business Development - The Depository Trust & Clearing Corporation (DTCC)

Objectives of the session

This session will first assess the current trends of the decentralised finance (DeFi) market, the related opportunities and challenges associated with DeFi applications and the interactions with the centralised cryptoasset space and traditional financial markets.

The panel will also discuss the latest thinking about the policy implications of DeFi, whether cryptoasset and stablecoin regulations proposed at the EU and international levels can tackle DeFi specific risks and whether additional or more specific measures are potentially needed.

Points of discussion

  1. Current state of play for decentralised finance (DeFi): How has the recent crypto-asset market downturn affected DeFi? What are the main opportunities and challenges associated with DeFi and can DeFi features be leveraged in traditional financial value chains? What are the main risks posed by DeFi applications and to what extent are they specific? Are the interactions between DeFi and traditional finance due to develop and what the related opportunities and spill-over risks?
  2. Policy approach at the EU and international levels: Can MiCA and AML/CFT rules tackle the risks from DeFi and support its development? Are additional or more specific rules needed in certain areas? Is the current supervisory approach adapted to DeFi developments? How are DeFI risks addressed at the international level and are changes needed to existing global frameworks to take the specificities of DeFi into account?