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Blockchain regulation : by rules or enforcement?
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The State of the Union Conference; 2024; Shaping Europe’s future through inclusive dialogue; 14th edition; Parallel Panel
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ARNAL, Judith, MANNAN, Morshed, NOBLE, Elisabeth, SIDHU, Ikhlaq, ESPINOZA, Javier (editor/s), Blockchain regulation : by rules or enforcement?, The State of the Union Conference, 2024, Shaping Europe’s future through inclusive dialogue, 14th edition, Parallel Panel - https://hdl.handle.net/1814/76961
Abstract
The development of Digital Assets based on blockchain technology has contributed to economic growth and increased the efficiency of financial systems around the world. Along the way, however, the same technologies have raised concerns about market transparency, security, and volatility. In response, governments and regulators have developed policy frameworks that seek to support the growth of innovative technology and business models, while protecting consumers and financial stability. But different jurisdictions have taken different approaches. The EU has led the way in developing a comprehensive regulatory regime under MiCA; the UK has extended traditional financial regulation to capture this new activity under its Financial Services and Markets Act 2023; and the US has taken the approach of 'Regulation by Enforcement'. This panel will discuss the pros and cons of these approaches, what is still left to do in terms of blockchain regulation, and what the implications of all this are for Europe and the world.
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This contribution was delivered on 24 May 2024 in Palazzo Vecchio (Florence) on the occasion of the hybrid 2024 edition of EUI State of the Union