Why have traditional issuers and banks taken so long to innovate in Cryptocurrencies and Blockchain?

 

Traditional banks and banking methods have defined the backbone of society’s financial ecosystem for hundreds of years. Then, ‘Bitcoin’ and ‘Blockchain’ burst onto the scene and pushed traditional institutions and the payment rails on which they operate out of the ‘monetary comfort zone’ in which they had been languishing.

 

This white paper examines the key reasons why the financial services industry has been disturbed by the issues these new digital asset players are bringing to the regulatory space. But it also demonstrates how with the right regulatory framework and international adoption traditional banks and issuers could innovate with crypto and blockchain alongside traditional money solutions.

 

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Regulating ‘Instability’ Coins

 

In the last crypto paper, we looked at the way in which banks and regulators were viewing crypto and blockchian, how the industries should look to work closer, and take a real look at how they can work together rather than just block and ignore. We have seen The Financial Action Task Force (FATF) publish their guidance on Virtual Asset Service Providers (VASPs), the Financial Conduct Authority (FCA) publish their guidance on Cryptoassets and the launch of the white paper for Libra – the Facebook led consortium for a new global stablecoin. In additional there are many central banks launching their own fiat-backed currencies on the blockchain. But what does it all mean and how will this new wave of stablecoins change our financial services industries?

 

Moorwand’s latest white paper investigates stable coins, how they could be regulated and ultimately used to stabilise today’s highly volatile economic situation. ‘Regulating ‘Instability’ Coins’ demonstrates how cryptocurrencies and blockchain are transforming today’s financial regulatory landscape.

 

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