Speakers
Chair
Carmine Di Noia
Director of Financial and Enterprise Affairs Directorate - Organisation for Economic Co-operation and Development (OECD)
Public Authorities
Olivier Fliche
Director of FinTech Innovation Hub - Autorité de Contrôle Prudentiel et de Résolution (ACPR)
Kristin Johnson
Commissioner - U.S. Commodity Futures Trading Commission (U.S. CFTC)
Liga Klavina
Deputy State Secretary on Financial Policy Issues - Ministry of Finance of the Republic of Latvia
Sasha Mills
Executive Director, Financial Market Infrastructure - Bank of England
Industry Representatives
Stéphanie Cabossioras
Executive Director - Binance
Marco Santori
Chief Legal Officer - Kraken Digital Asset Exchange
Andrew Whitworth
Policy Director, EMEA - Ripple
Objectives
This session will first assess the current trends in the decentralised finance (DeFi) market, the related opportunities associated with DeFi applications and the technology underlying them and also the risks posed by DeFi activities and their interactions with traditional finance.
The panel will also discuss the latest thinking about the policy implications of DeFi and the regulatory and supervisory approach that may be needed for tackling the risks posed by DeFi.
Points of discussion
- Current state of play and potential of DeFi: What are the main trends of the DeFi market and what are the prospects ahead? What are the main use cases, opportunities, challenges and risks associated with DeFi activities? How may the underlying technology be leveraged in the traditional financial sector?
- Policy approach: To what extent can EU MiCA and AML/CFT rules and international crypto guidelines being developed tackle the risks from DeFi and support its development? To what extent can the rules and recommendations be applied to DeFi protocols and what are the possible issues that may arise in that sense (in terms of applicability)? In which areas of DeFi may adjustments to these rules and recommendations or additional/more specific rules be needed? Is the current supervisory approach adapted to DeFi developments? Can existing financial regulations appropriately support the use of DeFi technologies in traditional finance?