Blockchain at the Finovate Asia
Last week I participated in the strategy roundtable on #blockchain at the Finovate #Asia, together with Antony Lewis from R3, Wee Kee Toh from Monetary Authority of Singapore (MAS) , Joshua Ashley Klayman Kuzar from Linklaters and moderated by the lovely Allison Paz from Wall Street Blockchain Alliance. One key point I shared about was the emergence of Blockchain Self Regulatory Organisations (#SROs) since 2018, mainly in response to country specific needs such as the Japan Virtual Currency Exchange (JVCE) which was created in response to the #coincheck hack; in the US the Virtual Virtual Commodities Association (VCA) and the Crypto Rating Council (CRC) were created in response to unclear legal characterization of crypto tokens. More recently, the FATF guidance Virtual Assets and Related Providers, with its global coverage, probably led to the creation of a Global SRO by OKEx so that member exchanges will collaborate to define and comply with FATF guidelines. The global blockchain and crypto asset space is still evolving rapidly and its always a challenge to keep with the changes. Glad to meet old friends and exchange the latest updates in this exciting sector. #sgblockchain
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