‘Something must be done!’ The crypto regulatory challenge for 2023
The crypto winter has caused many to worry about the consequences of the industry continuing to operate unfettered, but are the threats dire enough to warrant drastic regulatory action?
The cover story in this year’s Digital Monetary Institute annual examines the challenges facing regulators as they look at a cryptocurrency market that suffered some grievous wounds in 2022. We examine whether regulators need to step up and take a firm grip on the industry for its protection, and the protection of retail investors and the broader financial system, or whether a laissez-faire approach is more appropriate.
The annual also contains insightful contributions from DMI members, reflecting on a broad range of topics, including the use cases and adoption trajectory of central bank digital currencies, the role of distributed ledger technology in 2023 and innovation like quantum computing. The intersection of technology and finance is at a fascinating and dynamic stage, and the members of the DMI have much to say on the key issues.
The industry faces some immensely challenging questions. The DMI and its members intend to be at the heart of these discussions in 2023. A key event this year will be the DMI symposium on 10-11 May, where we will follow up on the success of last year’s conference, which had some 3,000 registered attendees, including several hundred central banking officials.