Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Stablecoins, Metaverse, NFTs
BC Crypto Trading Platform Defrauds Customers of $13M
Enforcement | Aug 12, 2024
Image: Freepik/rawpixel.com
ezBtc defrauds traders of $13 million through bogus claims of cold storage
Today, the British Columbia Securities Commission (BCSC) announced that BC-based crypto trading platform, ezBTC, has scammed clients out of $13 million by pretending to hold their assets in cold storage. David Smillie, the platform's operator, instead transferred user funds to his own accounts and online casinos. Crypto is still full of hazards and there's a pressing need for more consumer protection. Read the statement.
False claims were made by ezBtc that it would securely store client funds in cold storage. In reality, more than 935 bitcoin and 159 ether, worth around $13 million, were taken to Smillie's personal accounts and internet casinos. Customers experienced severe financial and psychological distress as a result of being unable to withdraw their money.
The BCSC came to the conclusion that Smillie and ezBtc had committed securities fraud in violation of Section 57(b) of the Securities Act. The Commission underlined that in order to prevent future instances of this kind of fraud, stronger sanctions and more widespread enforcement are required.
See: All Crypto Exchanges to Register as Investment Dealers
The findings of the BCSC highlight the deficiencies in the existing regulatory framework. It took many years, from 2016 to 2019, for customers to start complaining about the fraudulent activity.
Smillie's actions damaged investor confidence in digital asset platforms in addition to misleading investors. The CSA hosts a list of regulated platforms that are registered and allowed to do business with Canadians.
Conclusion
As digital assets become increasingly popular, there's a pressing need for strong regulatory frameworks and improved consumer protection measures. Establishing accountability and stronger oversight is critical to fostering confidence and protecting the interests of all stakeholders in the crypto ecosystem.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
 |  |  |
|---|---|---|
 |  |  |
All Crypto Exchanges to Register as Investment Dealers
Crypto Regulation | Aug 12, 2024
Image: Freepik
CSA Announces All Crypto Exchange Platforms (CTPs) Must Diligently Work Towards Investment Dealer Registration
The Canadian Securities Administrators (CSA) announced on August 6, 2024 that the "interim approach for time-limited restricted dealer registration" for CTPs would be discontinued. With the termination of this status, the CSA now requires all CTPs to register as full investment dealers and join CIRO, the self-regulated, Canadian Investment Regulatory Organization. Previously, under the restricted dealer approach, crypto exchanges were able to operate with fewer restrictions while they worked towards full registration. Those days have now passed. Here's a list of crypto exchanges working with the CSA that are allowed to do business with Canadians.
The Evolution of Crypto Trading Platform Regulation in Canada
Canadian regulators have worked alongside industry over many years to learn, adapt where required while protecting investors and ensuring market stability. This was a multi-year long process that continues to evolve.
2017-2019 - Initial Regulatory Guidance
When the CSA released its initial guidelines on the applicability of securities rules to cryptocurrency trading platforms in 2017, it was the first major action taken by Canadian regulators to address the rapidly expanding cryptocurrency business. According to these guidelines, any platform that allows users to trade cryptocurrencies that are either securities or derivatives needs to abide by Canadian securities rules.
See: Canada’s Proposed Mutual Fund Crypto Regulations 2024
In 2019, Consultation Paper 21-402 (NCFA comments) was released by the CSA and the Investment Industry Regulatory Organization of Canada (IIROC). In order to facilitate trading in cryptocurrency assets that are categorized as securities, platforms must register as securities dealers, according to the regulatory framework for CTPs that was presented in this paper.
2020-2022 - Introduction of Pre-Registration Undertakings (PRUs)
During this period, the CSA also issued Staff Notice 21-327 (2020) and Staff Notice 21-329 (2021), providing further guidance on the application of securities legislation to CTPs. These notices highlighted the importance of safeguarding client assets, maintaining robust compliance systems, and managing risks associated with trading crypto assets.
Pre-Registration Undertakings (PRUs) were announced by the CSA in 2022 to help CTPs comply with regulations while maintaining their operational capacity. While their requests for full registration were being handled, these PRUs obliged unregistered CTPs to comply with a series of securities laws and remain compliant. As the sector developed, this phase was essential in creating a level of regulatory supervision.
2023 - Enhanced Oversight and Stablecoin Regulation
In 2023, crypto regs in Canada tightened further around stablecoins which were called Value-Referenced Crypto Assets (VRCAs) by Canadian regulators. The CSA made it clear that VRCA that are tethered to fiat currencies or other assets are considered securities or derivatives. CTPs had to obtain express permission from the CSA before permitting trading in VRCAs.
See: Canada to Enforce Cryptoasset Reporting by 2027
The CSA also published Staff Notice 21-332 in 2023, with further conditions for CTPs operating on a pre-registered status that required them to separate client assets in trust accounts from their own to protect investors in case of insolvency.
2024 - End Restricted Dealer Approach and Transition to Full Investment Dealer Registration Requirement
On Aug 6, 2024, the CSA and CIRO released a statement announcing that all CTPs facilitating crypto asset trading should prioritize registering as an investment dealer and to become members of CIRO. The step to register as an investment dealer has strict compliance requirements, such as minimum capital on-hand and reliable and robust risk management systems to safeguard and protect client assets. CTPs must complete registration in a prioritized manner, historically within two (2) years, and maintain active communications with CIRO during the transition to ensure they comply with all regulations. *Advised to consult a securities lawyer.
Outlook
By requiring CTPs to register as investment dealers and become members of CIRO, Canadian regulators are imposing strict operating requirements to protect the integrity of Canadian financial markets and investors, as crypto continues to go mainstream.
See: WEF Insights On Coordinating Global Crypto Regulation
The National Crowdfunding & Fintech Association (NCFA Canada) remains committed to supporting this regulatory transition and fostering innovation within the fintech sector. By providing education, market intelligence, and networking opportunities, NCFA continues to play a key role in shaping a vibrant and sustainable financial ecosystem in Canada. *If you have questions and would like to speak to a securities lawyer, get in touch: info@ncfacanada.org.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
|---|---|---|
| | |
Brazil Approves the First Ever Spot Solana ETF
Crypto News | Aug 8, 2024
Image: Freepik
Brazil's Securities and Exchange Commission (CVM) has approved the world's first spot Solana (SOL) exchange-traded fund (ETF)
As reported by the Defiant, Brazil's Securities and Exchange Commission (CVM) has approved the first Solana (SOL) exchange-traded fund (ETF) in Brazil, the first of its kind globally.
The ETF is awaiting additional clearance from the B3 stock market in Brazil and will monitor the CME CF Solana Dollar Reference Rate, a benchmark created by the Chicago Mercantile Exchange (CME) and CF Benchmarks, and be managed by Vortx and QR Asset Management.
See: Coingecko 2024 Report: Investing in Tokenized RWAs
The launch of the ETF offers Brazilian investors diverse exposure to Solana, which at the end of the day is significant for both Brazil and the entire crypto industry.
What About 3iQ’s Solana ETP?
A Solana exchange-traded product (ETP) was proposed by Toronto-based 3iQ in June 2024 but is still sitting waiting for approval by the Ontario Securities Commission. If authorized, it will be traded as a closed-end fund on the Toronto Stock Exchange, as opposed to the continuously traded VanEck Solana Trust that was filed in the United States.
Conclusion
Brazil's approval of the world's first spot Solana ETF sets another precedent in the global crypto market.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
|---|---|---|
| | |
Tax-Free Bitcoin Zone Proposed by the USABTC
Crypto | Aug 8, 2024
Image from USABTC website (USABTC.org)
Policy Group Advocates for a Bitcoin Tax-Free Digital Economic Zone (DEZ) in the United States
An advocacy policy group called the USABTC, is proposing that the U.S setup a Bitcoin tax-free Digital Economic Zone (DEZ) to protect the dollar's global dominance (during a time it's being challenged by BRICS) and promote economic growth. So, they are advocating for no capital gains taxes on bitcoin transactions but there would be an 'exit tax' applied whenever Bitcoin is converted back into fiat, creating a revenue stream for the government's coffers in the absence of capital gains tax revenues.
The DEZ would also be open to international participants and includes measures to protect the right to self-custody of digital assets, addressing concerns within the cryptocurrency community.
See: Record 2023 US Crypto Lobbying Expenditure
The DEZ would be implemented over several phases and in principle work like this:
- The President would issue a special order to launch the USABTC project. This directive would enable the government to purchase and trade Bitcoin through a designated fund called the "Exchange Stabilization Fund", which was established as part of the Gold Reserve Act in 1934.
- The IRS would help setup the rules of the DEZ, and then new laws would need to be passed that apply special tax treatments to Bitcoin transactions.
- The DEZ would operate on a layer 2 blockchain infrastructure with smart contracts handling all on/off ramps, transactions and conversions, thus ensuring tax compliance and asset security.
- A regulated DEZ would protect investors' money, build public trust, and maintain a stable system going forward.
Some Examples of Global Crypto Tax-Free Zones
1. El Salvador
In 2021, El Salvador took the world by storm and became the first country to recognize Bitcoin as legal money. In an effort to draw in foreign investment and smoothly incorporate Bitcoin into its economy, the country exempts foreign investors from paying taxes on Bitcoin held in its exchanges.
2. Puerto Rico
Puerto Rico is considered a US territory with independent tax laws. Crypto investors who acquire digital assets while residing in Puerto Rico are exempt from capital gains taxes, making it an attractive destination for U.S. crypto investors looking for tax breaks.
3. United Arab Emirates
For businesses dealing in digital and virtual assets, the United Arab Emirates (UAE) provides a tax-free environment, especially through free zones like the Ras Al Khaimah (RAK) free zone. The UAE is a growing hotspot for blockchain and cryptocurrency companies because of these special zones, which allow 100% foreign ownership, no corporate or personal income taxes, and no customs fees.
4. Switzerland
In Switzerland, known as 'Crypto Valley", private or individual crypto investors are exempt from crypto capital gains (not professional or self-employed traders, or businesses). The country is still at the forefront of a favourable digital asset regulatory framework, and attracts several blockchain projects.
5. Germany
If a cryptocurrency is held for more than a year, Germany exempts it from capital gains tax. As a result, Germany is becoming a more desirable location for digital asset investors thanks to this policy, which promotes long-term investment perspective.
6. Malta
Known as "Blockchain Island," Malta does not tax bitcoin capital gains for non-professional traders. Despite the possibility of income tax on trades, businesses and investors in digital assets continue to benefit greatly from the general tax system.
Conclusion
Countries like El Salvador, Puerto Rico, the UAE, Switzerland, Germany, and Malta have established themselves as crypto tax havens.
See: New US Crypto Tax Reporting Rules Starting 2025
The proposal for a U.S. Bitcoin tax-free zone called the DEZ, if implemented, might very well catapult America to forefront of the regulated crypto revolution (while maintaining the dollar's global dominance at the same time).
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
|---|---|---|
| | |
XRP Pumps 20% After SEC vs Ripple Case Finally Ends
Enforcement | Aug 8, 2024
Image: Freepik/kjpargeter
Ripple's Legal Battle with the SEC Concludes with $125 Million Fine
On Aug 7, 2024, the case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has finally come to an end, with Judge Analisa Torres issuing an injunction against Ripple for any potential future violations of securities laws and a $125 million civil fine.
Originally, the SEC was after a massive $1 billion disgorgement penalty and $900 million civil penalty but in the end Ripple is being required to pay a significantly reduced fee of $125 million. The difference is being attributed to the SECs regulatory approach or missteps.
See: Court Rules XRP Sales Not Investment Contracts: How the SEC Case Could Reshape Crypto Landscape
Interestingly, the court determined that Ripple violated Section 5 of the Securities Act by selling XRP to institutional investors (without registering the transaction(s) as a securities offering), however in the case of its programmatic XRP sales to retail investors the court concluded that it did not violet federal securities law.
The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.
This is a victory for Ripple, the industry and the rule of law. The SEC’s…
— Brad Garlinghouse (@bgarlinghouse) August 7, 2024
Overview of the Ruling
- Ripple is required to pay $125 million for violating the Securities Act for the unregistered sale of XRP to institutional investors.
- The court issued a permanent injunction to prevent XRP from ever violating the Securities Act in the future. Ripple must register all future offers and sales of securities with the SEC.
See: Inside Federal Securities Laws and Crypto’s Tightrope
- Due to insufficient evidence of investor harm, the SEC's request for disgorgement was declined, so Ripple is not forced to repay any gains from the unregistered sales.
Outlook
Industry and legal experts see the verdict as a major win for industry that will impact future regulatory actions and provides a clearer regulatory framework for digital assets within U.S. securities laws, with the price of XRP pumping 20%.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
|---|---|---|
| | |
BoC and OSC Staff Collaborate on AMM Study
DeFi Report | Regulatory Perspectives | Aug 7, 2024
Image: The Ecology of Automated Money Markets (BoC and OSC, Jul 2024)
Insights from the Bank of Canada (BoC) and the Ontario Securities Commission (OSC) report on Automated Market Makers
A recent collaborative research effort between the Bank of Canada and the Ontario Securities Commission (OSC) to analyze the operating mechanisms, user adoption trends, and regulatory perspectives related to Automated Market Makers (AMMs), at the forefront of Decentralized Finance. The comprehensive staff discussion paper is called "The Ecology of Automated Market Makers" (Research overview, 56 page PDF), and unveils the complex ecosystem of AMMs.
What Are Automated Market Makers?
AMAs are a feature of a decentralized exchange (DEX) model that handles pricing and trading of cryptocurrency assets without the use of middlemen. AMMs use algorithms to set prices for trading pairs of cryptocurrency assets via smart contracts on blockchain platforms. According to the report, AMMs are now the most often used model in DeFi, mostly because of their capacity to supply liquidity for seamless trading.
Key Research Insights
- Despite the bearish downturn of crypto markets in 2022, major AMAs like Uniswap and Curve maintained significant activity levels, displaying their resilience and strong underlying demand for decentralized trading products. Trading volumes suggest AMMs have a strong trading base that could grow with market recovery.
- There are a variety of AMM models, each meeting different needs. Uniswap's broad market coverage and first mover advantage have made it a leader while more risk adverse traders looking for a safer environment may opt for Curve with concentration on stablecoins. Then there's Sushiswap's lending options and Balancer's multi-asset liquidity pools, which are other examples of AMM models for niche markets and trader types.
See: CFTC Publishes DeFi Report for Policymakers and Industry
- There's a risk of market manipulation and governance abuse when the concentration of governance power is held among a small number of significant token holders. This highlights the need for tools to enable greater and more equal participation in AMM governance.
- Incentive systems, such as staking and liquidity mining are needed to sustain liquidity but they can create significant volatility and conflicts of interest.
- Arbitrage activities that match AMM pricing with external market prices pose an impermanent loss risk to LPs. This risk needs strong risk management measures for liquidity providers.
- Although counter-intuitive to some, the research found that because blockchain transactions are transparent and visible onchain, there is a greater chance of market manipulation. Maintaining market integrity requires strict regulation and efficient monitoring.
Recommendations for Regulatory Frameworks
The paper suggests several areas where regulatory frameworks may need to adapt to address the unique characteristics of AMMs.
- To maintain accountability, regulators may require open disclosure of governance arrangements, token holdings, and decision-making procedures.
- Imposing liquidity and capital limits on AMMs could help reduce the risks associated with loss and provide adequate liquidity in times of market stress.
- Creating sophisticated tools to track blockchain transactions and spot questionable activity can assist authorities in spotting and stopping fraud and market manipulation.
See: Inside OMFIF’s Tokenisation Report: New Rails of Finance
- DeFi participants can benefit from a more stable and predictable environment by reducing regulatory arbitrage and establishing clear legal definitions for AMMs and harmonizing regulatory procedures across jurisdictions.
- Enhancing market integrity and investor confidence can be achieved with strong risk management and consumer protection measures in place, such as educating investors about the hazards connected to AMMs.
Conclusion
As AMMs expand and evolve, this study provides a baseline understanding for regulators and stakeholders.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
|---|---|---|
| | |
Help the BoE Shape the Future of Payments and Digital Money
Discussion Paper | Aug 5, 2024
Image: Pixabay/JESHOOTS com
Bank of England's Approach to Innovation in Money and Payments
As a leader in global fintech, the Bank of England (BoE) published a key discussion paper last week called, "The BoE's Approach to Innovation in Money and Payments," a proactive approach to guiding the future of financial innovations. With such a quickly evolving digital finance environment, it's important for the UK to preserve it's fintech leadership by prompting key fintech industry stakeholders to address numerous concerns to balance practical innovation while ensuring financial stability.
5 Initiatives of the Latest BoE Thinking
1. Real-Time Gross Settlement (RTGS) Renewal Programme
The BoE is improving the Real-Time Gross Settlement (RTGS) system, which is core to the UK's financial infrastructure. One of the updates is the introduction of Omnibus Accounts, which facilitate the use of central bank funds for the settlement of tokenized assets. These enhancements are intended to increase interoperability, increase system resilience, and extend access.
- Banks can pool their reserves at the BoE through Omnibus Accounts, which makes it easier to exchange tokenized assets on privately run platforms. This increases security and confidence by guaranteeing that transactions are backed by funds from the central bank.
- The updated RTGS system has a modular design that makes it possible to update it more quickly and effectively in response to changing market demands and emerging technology.
See: Bank of England Launches New Data Innovation Strategy
- The Bank of England fosters competition and innovation by granting greater access to settlement accounts to non-bank payment service providers (NBPSPs) and updating access regulations.
- The goal of these improvements is to make it easier to incorporate central bank funds into always-on payment systems. Examples of these improvements include extended operation hours and a synchronization interface with external ledgers, such as DLT.
2. Digital Securities Sandbox
The BoE has created a Digital Securities Sandbox in collaboration with the Financial Conduct Authority (FCA). Through the provision of a regulated environment, market players can securely issue and trade digital securities under this initiative, which promotes innovation while maintaining regulatory compliance. The sandbox seeks to:
- Encourage innovation by enabling the safe testing of novel financial instruments and technological advancements.
- Making sure that trading in digital securities doesn't jeopardize the financial system's overall stability.
- Upholding market integrity and strict guidelines for openness and equity in the online securities market.
3. Exploration of Private Digital Money
Stablecoins and tokenized deposits are examples of private digital currencies that the BoE is actively looking into integrating into the banking system. The creation of a legal framework to ensure the security and dependability of these innovations is the main goal.
See: UK’s Digital Pound Initiative Sparks Privacy Discussions
- Creating regulatory rules and protections for the creation and application of virtual currency.
- Mitigating risks and concerns about consumer protection and financial stability that may arise from incorporating new payment methods.
- Promoting the secure implementation of tokenized deposits and stablecoins to improve the accessibility and efficiency of the payment system.
4. Retail Central Bank Digital Currency (CBDC)
The BoE is considering the potential of a digital pound or retail CBDC to improve the efficiency of the payment system by offering a digital alternative to real currency. Among the retail CBDC's main objectives are:
- Ensuring that a digital pound coexists with traditional cash without taking its place.
- Ensure competition by establishing a public forum for payment innovation in the private sector.
- Cutting expenses for both customers and companies while simplifying payment procedures.
5. Programmable Platforms
Programmable systems like those built on Distributed Ledger Technology (DLT) are being investigated by the BoE for their ability to lower barriers while smart contracts have the potential to completely transform financial interactions. Having said that, most novel innovations come with regulatory challenges, and as such the BoE's priorities are currently to:
See: OMFIF Podcast: Smart Contracts and Retail CBDCs
- Evaluate the potential benefits of programmable platforms—like automation and efficiency gains—against the hazards involved.
- Establish a regulatory framework for safe, secure, and efficient application of programmable platforms in the financial industry.
- Promote (not stifle) innovation while preserving integrity and financial stability.
Primary Questions for Feedback
In order to strike the right balance and approach to incorporating new financial innovations, the BoE is seeking stakeholder feedback, such as:
- What are the significant benefits and risks of adopting programmable platforms in payments and settlement?
- How likely is it that wholesale financial markets will adopt these platforms at scale?
- What are the potential risks and benefits of tokenized deposits and stablecoins for wholesale transactions?
- How can these digital forms of money ensure the singleness of money?
- What functionalities should a retail CBDC include to be most effective?
- How can a retail CBDC support innovation, choice, and efficiency in payments?
- What key cybersecurity concerns arise with new payment technologies, and how can they be mitigated?
- What regulatory frameworks are necessary to manage new vulnerabilities introduced by digital currencies and payment innovations?
- How can innovations in money and payments avoid exacerbating the digital divide?
See: Inside OMFIF’s Tokenisation Report: New Rails of Finance
- What steps can ensure new financial technologies are accessible to underserved populations?
- How will the rise of private digital money affect traditional banking structures?
- What implications do digital currencies have for monetary policy and financial stability?
Conclusion
Hats off to the BoE who is obviously committed to balancing security and innovation. Soliciting feedback to ensure the future of digital money and payments is absolutely essential for meaningful progress. Contribute by October 31, 2024 to this important discussion this important conversation.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
|---|---|---|
| | |
