The Crypto Summit is an invite only program bringing together thought leaders globally to address the challenges of compliance and threats of economic crimes confronting Virtual Asset/Crypto Asset Service Providers and other Technology Companies, Traditional Financial Institutions, Regulators, Policymakers, Law Enforcement, and Others Working with Cryptocurrencies and Distributed Ledger Technologies.
The unrelenting pace of development driven by blockchain based technologies and the continuing proliferation of multiple classes of digital assets – including virtual currencies, security and utility tokens, stablecoins, central bank digital currencies, and nonfungible tokens – against the backdrop of “defi” (decentralized finance) and ever expanding metaverses, present unprecedented challenges globally for both the public and private sectors. A delicate balance exists between fostering innovation and promoting healthy ecosystems that benefit consumers and businesses alike while deterring criminal use and abuse of the technologies.
- How can lawmakers and regulators appropriately protect the safety and soundness of financial systems that are inextricably connected to the new crypto-related products and services, preserving the best features they offer users instantaneously and globally?
- What are the responsibilities of the engineers and developers writing the code, what steps can be taken by the ecosystems that support the different crypto assets, and to what extent can and should integrity play a role as this technology is deployed and incorporated in many facets of our lives?
- How can the technology itself provide solutions to address these challenges, especially as we move towards a world where AI and the bots assume greater operational roles?
- How can we balance the immense positive aspects of these technological developments with existing laws, regulations and expectations of various countries intended to deter economic crimes and criminal abuse of financial systems?