Dialogue with the Regulators:

Navigating Blockchain & Fintech

Gallery

Images by Michael Seto Photography

Dialogue with the Regulators: Navigating Blockchain & Fintech unlocks the critical partnerships between the financial services industry, solution providers, key industry leaders, and regulators leveraging technology to drive innovation and regulatory change.

At the forefront of revolutionary changes in fintech and regtech is blockchain technology. Worldwide spending on blockchain solutions alone is expected to grow from $1.5 billion in 2018 to an estimated $11.7 billion by 2022 with the financial sector accounting for over 60 percent of the market value of blockchain worldwide (Statista). As overall fintech solutions evolve, the regulatory landscape will face enormous challenges in keeping up with technology disruption.

The forum brought together the fintech ecosystem for an intimate and productive dialogue focused on collaborative and innovative approaches towards building a robust financial and regulatory compliant environment.

Panel Discussions

Fintech Impact on US & Global Payments Systems & Alt Currencies

Implications of regtech applications for financial markets, including payment and settlement systems (e.g., the effects of DLT and smart contracts on the speed and efficiency of settlement and transparency)
Digital payment vulnerabilities- compliance risks, transaction laundering, buyer/seller collusion, synthetic identity fraud, and terrorist financing
Legal and compliance considerations-state and federal consumer protection laws, anti-money laundering, state money transmitter licensing

Blockchain & Digital Assets

Recent innovations in blockchain and digital assets
Top concerns for compliance leaders in financial institutions on regtech adoption, issuance, investor onboarding, KYC/AML, custody issues, secondary trading
Digital asset governance challenges including regulations, regulatory action and compliance

Dialogue with the Regulators: Innovation & Regulation

Guidance from Bank for International Settlements (BIS) on Suptech (i.e., the issue of innovative technology by supervisory agencies), potential for global regulators to leverage the use of tech & innovation to enhance compliance
Creating a path/facilitating the ability of machines to process FINRA rules
SEC Enforcement Guidance covering Crypto, Digital Assets, and Cybersecurity (Recent enforcement actions, $1.7 Billion Unregistered Token Offering Halted (Telegram Group Inc and TON)
Criticality of establishing robust firm policies and procedures, overall firm goals and adherence to best practices
Launching digital efforts by a global investment bank and impact on data, largest ATS as a SCI entity