Cryptos on the rise
Digital transformation is moving at a rapid pace. Policymakers, regulators, and firms all need to play their part in ensuring that cryptos are as safe as possible — not only in terms of investment risk but with regard to regulatory certainty and cyber resilience.
This new report by Thomson Reuters Regulatory Intelligence examines some of the regulatory developments on both the definition and handling of cryptocurrencies across the globe, as well as the risks and benefits of this next iteration of digital transformation.
The report acknowledges the emergence of bitcoin as a mainstream instrument and assesses how that has changed the risk profile with regard to potential money laundering and other misuse of cryptocurrencies for illicit or illegal activities. Cyber risk is a concern for all cryptos and the report considers how firms, regulators, and exchanges can enhance their cyber resilience.
Learn more about the myriad challenges facing financial services firms, regulators, and policymakers as they all come to terms with the rise of a new class of product. Download your copy of the report written by Susannah Hammond and Todd Ehret, Senior Regulatory Intelligence Experts for Thomson Reuters Regulatory Intelligence.
“The speed of technological change and a growing reliance on third-party, technology-based services is increasingly introducing new risks and vulnerabilities to the sector.”
– Randal K. Quarles, vice chair for supervision and chair of the financial stability board, U.S. Federal Reserve (March 2021)