How to Regulate Cryptocurrency
By Moni Talks Chairman and Founder Brendan Beeken
Anyone who has followed the Moni Talks story will know that responsibility, transparency, and the protection and security of our users have always been paramount.
Many may have become bored, and more than a few quite angry, with my calls for reasonable yet enforceable regulation of the cryptocurrency industry. There are plenty of insiders who feel government regulation flies in the face of the principles of decentralised finance.
I make no apology. I believe that we have a duty to protect investors, combat the use of crypto in criminal enterprises, and make the space accessible to more people by demonstrating a commitment to regulated standards.
These values permeate everything we do at Moni Talks .
The important topic of #cryptocurrency regulation will be highlighted during the Cryptoassets Regulation and Compliance 2022 conference in London in December.
Organisers Informa Connect have asked me to join the opening panel of the conference, and I was more than delighted to accept the invitation as founder and chairman of Moni Talks.
I’ll join such luminaries as Professor Jonas Hedman of the 丹麦哥本哈根商学院 , CEX.IO Chief Compliance Officer Shelley Grayson , James Delaney , Asset Management Regulation Director at AIMA - The Alternative Investment Management Association , and 21.co leader Alex Pollak ,
The session, Shaping Future Regulation to Increase Transparency, Access and Protection, will be a wide-ranging discussion on the subject.
Among the talking points will be the challenges of regulating a sector built on new and developing technology, broadening the ability of investors to increase access and fairness, and developing rules for cryptocurrency as a system of exchange as well as a store of value.
We’ll also be discussing harmonising the regulatory frameworks and treatments to create common standards, including alignment with international standards, and creating a regulatory system that nurtures innovation.
Anyone who reads articles on my website or follows my social media profiles will know that these are topics I care about and have been vocal on. I believe a platform for open, honest discussion, such as that given by this conference, is vital.
Cryptocurrency needs to be made safer, combatting fraud, criminality, and exploitation. There are two reasons for this. One is that we should, as advocates of the industry, be committed to raising standards and protecting investors and users. The second is that a lack of consistent, meaningful regulation dissuades some, including individual investors and financial institutions, from engaging in cryptocurrency. The lack of safeguards is limiting the growth and adoption of digital assets.
I will be bringing my own experience of working with regulators and researching the rules on crypto to the panel. Moni Talks is headquartered in the Isle of Man and is registered with the Island’s Financial Services Authority as a Designated Business. We are passionate about ensuring we meet the regulatory demands of our home as well as helping officials to further define and improve cryptocurrency regulation in the Isle of Man to protect consumers.
Moni Talks also has ambitious plans to grow internationally, so we have conducted in-depth research into regulatory frameworks from Europe, including the UK, Germany, Italy, and Spain, to the USA and Asia, including Singapore.
An explicit finding of that research is that the regulations in many jurisdictions are lacking, in either protecting crypto users or nurturing the development of responsible crypto services and products. In fact, many seem aimed at stifling digital innovation.
A further finding is that inconsistency in the regulations between jurisdictions makes observing cross-border rules excessively difficult for responsible members of the #crypto space while also creating loopholes the dishonest can exploit for criminal and nefarious purposes.
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I am very much looking forward to contributing to the opening panel, as well as attending the rest of the conference sessions.
If you would like to attend, you can book your place with a 20% discount by clicking HERE.
What is IceDOA and Why Does it Exist?
By Emmanuel Baiden for #LatestMoni
IceDAO is a community-driven DAO that uses staking and bonding to introduce novel economic and game-theoretic dynamics into the market. These two mechanisms are critical for developing a sustainable reserve currency while optimising short and long-term wealth creation for token holders.
Their community is backed by a basket of assets such as Magic Internet Money ($MIM) in their treasury, providing it with an intrinsic value that cannot depreciate…continue reading
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