The first edition of XReg’s Regulation of DeFi Roundtable report

Report
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July 23, 2024

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Key outcomes of a discussion between policymakers, regulators, and private sector participants on the future regulation of truly decentralised finance (tDeFi).

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On 14 March 2024, policymakers, regulators, academics and representatives from both the decentralised finance (DeFi) and centralised finance (CeFi) sectors convened at XReg’s inaugural Regulation of DeFi Roundtable to discuss the future regulation of truly decentralised finance (tDeFi).

The Roundtable was convened in Brussels as the European Union, one of the world’s largest economic blocks, is poised to bring into effect one of the most comprehensive pieces of crypto-specific legislation, the Markets in Crypto-Assets Regulation (MiCA).

Although MiCA has carved services conducted in a fully decentralised manner out of its scope, it also mandates a report from the European Commission assessing DeFi before the end of the year and a proposal in three years’ time that puts forth a solution to address it.

The Roundtable participants addressed the following fundamental points:

  • Whether or not tDeFi exists, how to define it, and what fully decentralised may mean, according to MiCA.
  • Whether activities and risks in tDeFi are the same as those in traditional finance.
  • Whether the same rules that exist for centralised and traditional finance should be applied to tDeFi.
  • What a new regulatory paradigm for tDeFi might look like.

To learn more about the views expressed and key outcomes of the discussion, download XReg’s report.

XReg Consulting is a public policy and regulatory affairs consultancy specialising in crypto. We help governments formulate sound policy, regulators supervise effectively, public authorities build capacity, and crypto businesses thrive and follow the rules.

Questions regarding the report? Interested in participating in XReg’s future Roundtable discussions on the Regulation of DeFi? Write to us contact@xreg.consulting.

Meet the Authors

Alexandra Walters

Head of Marketing

Alexandra Walters

As the Head of Marketing at XReg Consulting, Alexandra (Ally) is responsible for the development and execution of the brand, marketing and communications strategy of the XReg group.

Prior to joining XReg, she worked as a Brand Communications Director at a crypto start-up where she accumulated real-world experience navigating the world of marketing through the lens of FinTech and crypto compliance. She advised boards and CMOs on branding, content marketing and acquisition strategies, conducted due diligence on partners and marketing agencies, and developed regulatory business plans alongside a team of executives and advisors.

Ally has spent the greater part of her career immersed in digital media. Before entering the world of crypto, she ran her own brand communications consultancy in Berlin where she built and launched 50+websites, executed successful fundraising campaigns, produced events and exhibitions, and represented creatives in the fields of art, fashion, music, and other disciplines throughout the US and Europe.

Prior to moving to Berlin, she worked in strategic business and marketing roles at start-up companies in San Francisco and New York across the fields of consumer technology, music, advertising, editorial, art and entertainment. She has extensive experience advising businesses on fundraising, operational strategy, design, marketing, content creation, PR and product development.

Ana James

Senior Consultant

Ana James

As a Senior Consultant at XReg Consulting, Ana leads on a wide range of services for both public and private sector clients. She conducts analyses to determine the most suitable jurisdiction(s) to become authorised, provides regulatory remediation support, assists in the development of regulatory regimes, conducts risk assessments, administers training and works to implement systems and controls that help clients mitigate risk and comply with regulatory obligations.

Since joining XReg as one of the company’s first hires in 2019, she has worked closely with national governments on risk assessments, regulatory authorities on the drafting of virtual asset rules and regulatory guidance, and global members associations on responses to crypto-asset legislation in the European Union. She has also taken a lead role in XReg’s content marketing efforts, producing and editing reports, articles and hosting webinars on the latest policies and developments in the cryptoasset sector.

Ana started her career at the Gibraltar Financial Services Commission (GFSC) where she was part of the Authorisations team and then the International and Government Affairs team. As International Policy Advisor Ana liaised with regulators and public sector bodies and supported the GFSC’s membership and participation in international organisations. Whilst at the GFSC, Ana completed the Chartered Insurance Institute’s core qualification (CII) and IOSCO/PIFS-Harvard Law School’s Global Certificate Program for Regulators of Securities Markets.

FAQs

Our most relevant 
and frequent questions and answers.

What industries does XReg Consulting specialise in?
Can XReg Consulting assist with international regulatory requirements?
What sets XReg Consulting apart from other regulatory consulting firms?
What is the typical duration of a consulting engagement with XReg Consulting?
Can XReg Consulting assist with obtaining the necessary crypto regulatory licenses and permits?
What are the potential penalties for non-compliance with crypto regulation?
What are MiCA’s Standards and Guidelines?