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Tehol_Beddict

Global cooperation in crypto regs coming to light

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11 minutes ago, davygravy77 said:

Brilliant, who do you think would be the guiding hand here? IMF or the countries central banks themselves?

I'd say the IMF is in the perfect position to chaperone the formation of these regulations at a national level, being a supranational entity that's focused on global stability and regulation. 

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3 hours ago, davygravy77 said:

Brilliant, who do you think would be the guiding hand here? IMF or the countries central banks themselves?

BIS, G20, IMF, IOSCO. All of these are lead by central banks and the countries themselves so I'm not sure there's much difference. It's hard to saw which is leading the charge.

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10 minutes ago, Tehol_Beddict said:

BIS, G20, IMF, IOSCO. All of these are lead by central banks and the countries themselves so I'm not sure there's much difference. It's hard to saw which is leading the charge.

I'd say BIS leads central banks. Sixty central banks and monetary authorities are currently members of the BIS and have rights of voting and representation at general meetings. Excellent post by the way @Tehol_Beddict

Edited by Danny

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44 minutes ago, Flintstone said:

Thank you for that. I know that the UK has not been idle in this matter, but unless I am mistaken, they are certainly not yet at the stage of clarity where Malaysia and Singapore find themselves. In other words, or more to the point, in the words of the report there is still work to be done

Quote

There is therefore a need to consider carefully how regulation could meaningfully and effectively address the risks posed by exchange tokens and what, if any, regulatory tools would be most appropriate. The government will issue a consultation in early 2019 to further explore whether and how exchange tokens and related firms such as exchanges and wallet providers could be regulated effectively, in the case that other measures outlined in this report do not adequately address all relevant risks.

Continued patience in a fast moving and dynamic environment is required - seems to be a contradiction in there, but I'm enjoying the journey 

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@mistatee2000 Another bit of relevant info: https://www.fca.org.uk/publications/consultation-papers/global-financial-innovation-network

 

I’m hoping the UK regulatory framework of DLT will tie in with the open banking deadline dates. 

https://www.finextra.com/blogposting/15699/will-fis-be-ready-by-march-14-2019-for-psd2-open-banking

The United Kingdom Financial Conduct Authority (FCA) though has recently re-iterated their guidance to the UK market around the importance of these dates.

Edited by Flintstone
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