Crypto forum discusses regulatory challenges 

Discussing the problems associated with cryptocurrency regulation, the panel discussed the potential of central bank digital currency (CBDC).

“I think CBDCs represent a great gateway towards the citizen side of things,” said Torteman. “Regulation has been a challenge and continues to stay one because it is very much dependent on time and space in different regions. 

“We are seeing it evolve, however it is extremely complex and varies a lot between different jurisdictions, which makes everything much more challenging. I do think CBDCs on that aspect represents a great door towards the institutional side.”

Referencing the Markets in Crypto-Assets Regulation (MiCA), which institutes uniform EU market rules for crypto assets, Rau adds: “Coming up with a regulation that puts consumer protection at the heart of the discussion, that regulates stablecoin because of the impact it can have on the real economy and aims to provide a level playing field to basically define how people should engage in the industry, is absolutely necessary. 

 “At least for Europe, the train has left the station – MiCA has been signed off and we’re four or five months into the 18-month deployment cycle. It would be premature to speak about how it looks at the end of the day because there are still some details to be figured out, but I think it’s welcome, it’s necessary and a good thing.”

To watch the Crypto Currency Forum, simply click on the video link at the top of this story. 

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