This session will first assess the current trends and expected future evolutions of European and global cryptoasset markets, how interactions are developing with traditional financial players and whether the lessons learned from the recent turmoil in the crypto market in terms of inappropriate business models and governance practices have been taken into account.
The panel will also discuss the progress made on the regulation of cryptoassets and cryptoasset service providers (CASPs) in the EU and internationally, whether these policy initiatives are on the right track and if there are any blind spots or unintended consequences that need addressing.
Points of discussion:
- What are the current trends in the EU and global crypto markets? Is the market recovering from the 2022 downturn? Are there major flaws in the design of cryptoassets and crypto business models remaining to be addressed? Are interactions with the traditional financial system increasing and what are the consequences?
- Is the implementation of MiCA moving in the right direction? What are the key issues remaining to be clarified at Level 2? Are there major blind spots or shortcomings in MiCA? What impact can be expected from global initiatives led by the FSB and IOSCO in this area? Is there a need for more international coordination and consistency in the policy approach to cryptoassets?