A fresh look at the German regulatory landscape for crypto securities.
We look at why the choices made designing these systems could have an impact on financial inclusion, and how the role of private sector banks could change in the new payments landscape.
Modularization refers to the existence of numerous players in a decentralized value chain, each using digital technology to provide a specialized service that meets the needs of other value-chain players or end-customers. In financial services, modularization represents an alternative to the vertically integrated market structure long dominated by large banks and other institutions.
The pace of the SEC’s crypto crackdown ramped up last week with its highest profile actions against crypto trading platforms since the crypto market turmoil at the end of 2022. The SEC’s actions place crypto trading platforms and the market as a whole on extremely uncertain regulatory footing in the US, and the frustration from the industry is palpable.
On April 14, 2023, the Securities and Exchange Commission (“SEC”) reopened the comment period and provided supplemental information on proposed amendments to Rule 3b-16 under the Securities Exchange Act of 1934 (“Exchange Act”) which defines certain terms used in the definition of “exchange” in Section 3(a)(1) of the Exchange Act.
We spoke with four experts to explore how AI use is likely to evolve in the financial industry in the years to come.