RegTech IntelligenceAs the Digital Operational Resilience Act (DORA) prepares to reshape the regulatory landscape for digital asset providers by 2025, businesses are under increasing pressure to implement robust operational resilience strategies. As JWG and Memery Crystal’s ‘Decoding DORA’s Digital Asset Impact’ roundtable, held under Chatham House rule with industry experts revealed this month, the distinct challenges
Background: The EU digital asset agenda is not all about MiCA. To offer digital assets in Europe and the UK, firms and their suppliers will need to adhere to the EU Digital Operational Resilience Act (DORA) and corresponding UK regime in Q1 2025. Key insight: JWG, the industry’s regulatory think-tank has used its AI-natural language
After conducting over 50 interviews with firms, regulators and their suppliers, JWG has focused FINOS’ regulatory-driven open-source opportunities into 3 broad regulatory buckets: post trade regulatory and market transparency; digital assets compliance and ESG data validation. This JWG-facilitated 12-person physical roundtable will help define desired outcomes, business cases, priorities and pathways for successful execution of
Consumer trading in unbacked crypto-assets is akin to gambling and should be regulated as such, a committee of influential UK lawmakers said today. Technology underpinning crypto may have some benefits for financial services, but those are unclear, the Treasury Committee’s crypto-asset report said. Large parts of the crypto-asset industry remain a “wild west”, said Harriett
Over the past three months, regulatory developments in the digital asset space have continued to create choppy waters for industry players and market participants alike. Lawsuits have been filed, new initiatives have been launched, and guidelines are being introduced as governments attempt to keep up with the ever-evolving market. Who would have thought a pop
Regulators are busy engineering sell-side and buy-side rule changes which will change the markets, customer and risk management obligations starting this year. JWG has analysed the global landscape and assembled 20+ all-stars at our *virtual* Trading Seminar to discuss our exclusive RegTech research on upcoming compliance challenges. 7 days left to get your Complimentary VIP
UK crypto-asset regulation should require firms to be authorised locally and establish a physical presence to help asset recovery efforts when customer funds are lost to fraud or theft, lawyers said. HM Treasury’s crypto-asset regulation consultation paper, published this month, says crypto-asset activity provided in or to the UK must be authorised by UK authorities.
With new waves of regulation and enforcement coming fast, navigating cryptocurrency and digital assets rules has keeping middle and back offices hands on the tiller this quarter. JWG’s Crypto asset RegRadars are hot and this article provides three dozen links to contextualise choppiest waters in Q12023 in advance of JWG’s 22 March Trading Compliance seminar.
JWG’s sell-side and asset managers’ trading compliance radars are hot, and we’ve assembled and all-star cast to discuss the key trading perimeter, market data, consumer duty and risk surveillance issues on 22 March. Don’t miss this opportunity to dial-in to the debate. Complimentary VIP Pass Available – Apply Now! Register here for 22 March 2023
The UK Treasury’s fired a warning shot across the bow of digital assets businesses yesterday. The proposed regime will be a significant challenge for the current exchanges and digital asset firms who do not have access to institutional-grade RegTech solutions. With so much at stake, it is essential that those affected understand what impact these
The UK Treasury’s consultation on further crypto asset regulation signals a heavy compliance burden for crypto businesses and some vertically integrated firms may be required to restructure to gain authorisation. Crypto businesses operating in the UK must be registered with the Financial Conduct Authority (FCA) and compliant with the Money Laundering Regulation (MLR 2017). Around
Trading desks face unprecedented levels of regulatory change from the mechanics of the markets and how they monitor them, to how they interact with customers, the way they de-risk their technology suppliers and provide information to regulators. This article summarises the critical changes and lays out the context for our 22 March virtual trading seminar.
The regulatory spotlight on stablecoins has intensified this month with the Financial Stability Board (FSB) Crypto-asset paper noting[1] that many existing stablecoins still would not meet their recommendations. International risk management principles will be welcomed, but 2023 will be the year that the industry needs to define a better approach to managing compliance in a
Crypto market capitalization has receded by nearly 75% as $2 trillion were wiped off the market[1] leaving many crypto investors to reflect on the words Warren Buffet: “You only learn who has been swimming naked when the tide goes out”. Rulemaking continued to push the digital-asset agenda forward over the summer with over 3,000 pages published
Yesterday, 22 digital asset regulators and market participants gathered virtually across 39 jurisdictions to debate the RegTech challenges presented by digital assets. Tracking this sector’s regulatory obligations is like playing a three dimensional game of chess and small details can make or break markets. In this article we recap where we took away, how you
The UK’s finance ministry yesterday announced its plans to regulate certain stablecoins within existing payments regulation and begin to formulate its regulatory framework for crypto assets. HM Treasury has commissioned the Royal Mint to create a non-fungible token (NFT) this summer to mark the UK’s ambition to become a crypto-asset hub. “We see enormous potential
The digital assets marketplace is moving fast and this month, regulators have started policy efforts in anger. Join us 5 April as 22 market SMEs discuss what this means and what comes next. REGISTER HERE In the past month, US policy makers have fired the starting gun, The European Parliament has issued a DLT pilot
As the digital asset sector matures and policy makers design new rules to oversee this market, compliance has become a strategic battleground for market participants. Regulations that prescribe controls over ‘who trades what’ are being drafted and will include many check boxes for the transaction lifecycle. The great news is that TradFI has developed RegTech
Distributed Ledger Technology (DLT) holds great promise for Financial Services and is being used to transform some markets. In advance of JWG’s 5 April Digital Assets virtual Seminar JWG brought Alex Dorfmann, SIX, Dan Doney, Securrency, Peter Randall, SETL and Tom Zschach, SWIFT together to discuss what digital assets mean for TradFi practitioners, the opportunities
Yesterday, President Biden fired the starting gun for the US regulators’ race to control Digital Assets. Crypto enthusiasts have been looking for regulators to take firm positions on whether digital assets race on Formula 1, NASCAR, or Motocross tracks. Regardless, it will be RegTech that is waving the chequered flags very soon. Join an all-star
Crypto bros might struggle to see it this way, but digital asset regulation has moved at great pace in a short time. Will it be fit for purpose? With interoperable standards on the way, RegTech has the power to unify digital and TradFi rails. Join an all-star cast on 5 April for our virtual conference
This year we will be producing 3 seminars which will facilitate regulator, firm and supplier collaboration and to develop and encourage interoperability between TradeFi and digital waves. We are inviting Digital Asset, Crypto and TradFi market participants to join our 2022 Digital Finance Programme which will explore our global research and the role of Digital