Distributed ledger technologies are transforming financial markets, as for both the development of financial products and underlying market infrastructures. Indeed, they promise further automation and disintermediation, increased transparency and reliability as well as potentially improved liquidity and tradability of these assets.
Similarly, the digitalisation of the economy and the subsequent increasing share of cross border transactions also trigger the development of DLT based coins.
Eventually such a development raises the question of a need for tokenised forms of central bank currency for addressing the payment leg of commercial transactions as well as security settlements.
New technologies, which go hand in hand with new players, raise in turn general questions concerning how to achieve with the new arrangements, financial stability, consumer and investor protection, and market integrity while preserving a level playing field with legacy ones.
The session is devoted to find out the regulatory and supervisory needs stemming from these developments and exchanging views on whether the current regulatory frameworks regarding financial instruments, payment tokens as well as Central Banks Digital Currencies, match these needs.
Points of discussion
- What are the real perspectives of perspectives of stable coins and crypto assets and related timeframe?
- What are the main types of crypto assets or currencies, which deserve dedicated regulations proportionate to their specific use and users?
- What are the EU regulatory priorities to address crypto asset and tokenisation challenges in the global context?