The World Economic Forum recently launched a new whitepaper entitled Pathways to Crypto-Asset Regulation: A Global Approach. Ashlin Perumall, partner in Baker McKenzie Johannesburg, fellow of the World Economic Forum and member of the Digital Currency Governance Consortium (DCGC) community, was one of the co-authors of this white paper.
The white paper sets out to understand and highlight the needs and challenges in developing a global approach to crypto-asset regulation. In doing so, it delves into the various regulatory approaches being adopted by different jurisdictions and explores pathways to creating a responsible crypto-asset ecosystem globally.
According to the paper's lead author, Arushi Goel, specialist, Data Policy and Blockchain, Centre for Fourth Industrial Revolution India, World Economic Forum, the findings reinforce the urgent need for policy-makers and regulators to collaborate with industry and users, to realize the benefits while addressing the risks involved.
Recommendations in the paper point to an appreciation that the distinct opportunities and risks presented by crypto-assets will need an innovative approach, while building on lessons learned and best practices developed in other sectors.
The white paper is intended to enable various actors to accelerate dialogue, collaboration opportunities and action to build the vision of an equitable, inclusive and sustainable crypto-asset ecosystem.