DeFi or CeFi regulation? Crypto & blockchain innovation with accountability
In the latest episode of #FinancialFox, Steffy spoke with Sean Kiernan, CEO Greengage. Greengage is a London-based fully integrated financial services group bridging the traditional financial services space with the new digital innovations in crypto assets and blockchain.
The topic of the conversation was how to ensure crypto innovation and disruption in finance is made with responsibility and accountability.
Indeed, crypto and blockchain regulation has become a hot topic over the last weeks. Just a few days ago, the IMF noted that “setting up a comprehensive, consistent, and coordinated regulatory approach to crypto is a daunting task,” as it highlighted both the volatility and the economic value of the digital asset market, which is estimated to be worth around $2.5 trillion.
“But if we start now, we can achieve the policy goal of maintaining financial stability while benefiting from the benefits that the underlying technological innovations bring,” it added.
Among the suggestions put forward, the IMF hinted that crypto-asset service providers that deliver critical functions should have licensed or authorisation in order to operate and that financial authorities should make very clear what are the requirements for financial institutions on their engagement and/or exposure to crypto.
Tune in the episode below to see our conversation with Sean Kiernan and learn about the differences between Decentralised Finance (DeFi) and Centralised Finance (CeFi), two new concepts and booming trends disrupting the traditional scene.
What do you think about regulation and accountability in crypto? Let us know!
REMEMBER: All content in the video is for informational purposes only and does not constitute financial advice.
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