The fiasco surrounding the collapse of the second-largest cryptocurrency exchange globally is the basis for Head of Financial Services' Nigel Feetham's latest insight on the rise (or fall, in this case) of crypto assets. He discusses the premise that no financial system (decentralised or otherwise) is risk-free nor can be trusted blindly but also is never beyond the scope of regulation.
Gibraltar has positioned itself at the vanguard of regulation and today, nobody could reasonably articulate an argument against regulation of any of these sectors. The debate is now whether there should be more or less; Hassans' Associate Jerome Compson's recent piece is also worth a read for those operating in the space The Importance of Safeguarding Customer Assets - Gibraltar: A Rock Solid Solution.
More insights from Nigel on this topic can also be found here:
Musings of a crypto theorist - regulate it, tax it and imitate it
Crypto: Where Regulation Meets Innovation
The crypto sector needs to have a mature discussion with policyholders and regulators globally...Ironically, that is what the CEO and founder of FTX was attempting to do in Washington DC. At least he got that right, even if of no consolation now. www.gibraltarlaw.com/...