Monday May 01, 2023
How US Crypto Regulations Impact Institutional Adoption of Digital Assets
How US Crypto Regulations Impact Institutional Adoption of Digital Assets
This April has had crypto industry stakeholders glued to their phones watching the regulatory developments from the SEC and the proposed legislation around stablecoins.
In this episode, Ian Andrews is joined by an avid reader of reports coming from USA regulatory authorities regarding crypto, Sam ten Cate (Managing Director of State Street Digital, State Street).
Sam discusses how major bank and crypto exchange failures have had an impact on the regulatory conversation in the US and explains key concepts related to institutional adoption like segregation of activity and tokenization.
Sam explains how State Street started innovating in the digital asset space and provides results from their recent survey to show the current state of institutional interest in the crypto market during a very chaotic and regulatory heavy 2023.
Minute-by-minute episode breakdown
- (2:35) – How announcements from the OCC, FDIC and Federal Reserve in the USA set the stage for a chaotic 2023 for the crypto industry
- (7:15) – Understanding how the crypto industry is connected to the demise of SVB, Signature Bank and Credit Suisse
- (10:40) – Discussion on how to mitigate risk as a node operator when counterparties are unknown
- (13:30) -How State Street has innovated from being the first to design the exchange-traded fund (ETF) to navigating the digital asset space
- (15:45) – What is Segregation of Activity and how it could have kept crypto exchanges from failure
- (18:35) - Explanation of the FedNow service and what to expect from the launch in 2023
- (21:10) - Tokenization of every asset?
- (28:45) – What is the current state of institutional interest in the crypto market during the crypto winter
- (30:25) - How will regulations impact the thriving stablecoin ecosystem and the future of digital identity
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
- Conference: Chainalysis Links 2023 in Amsterdam (May 9 & 10 - Register Now)
- Website: State Street: Digital Asset Services and Tokenization
- Chainalysis Blog: The MiCA Marathon: Are we reaching the finishing line?
- State Street Report: State Street’s Digital Assets and Investment Study 2022-2023
- Policy Statement: Policy Statement on Section 9(13) of the Federal Reserve Act
- Report: BIS: Application of the Principles for Financial Market Infrastructures to stablecoin arrangements
- Press Release: Joint Statement on Crypto-Asset Risks to Banking Organizations
- Reports: OCC Interpretive Letters | #1170 | #1172 | #1174 | #1179
- YouTube: Chainalysis YouTube page - Links NYC 2023 videos updated
- Twitter: Chainalysis Twitter: Building trust in blockchain
Speakers on today’s episode
- Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
- Sam ten Cate (Managing Director of State Street Digital, State Street)
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