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

Ana is a Senior Consultant at XReg Consulting, where she delivers comprehensive advisory services to both public and private sector clients. Her expertise includes regulatory authorisations, remediation, development of tailored regulatory frameworks, risk assessments, training and implementing systems to mitigate risks and ensure compliance.

Since joining XReg in 2019, Ana has advised national governments on crypto-asset risk assessments, supported regulatory authorities in drafting rules and guidance and contributed to global associations’ responses to EU crypto-asset legislation. Her thought leadership extends to XReg’s content marketing efforts, where she has authored reports and articles and hosted webinars on the latest developments in the crypto-asset sector.

Ana began her career at the Gibraltar Financial Services Commission (GFSC), serving in the Authorisations and International and Government Affairs teams. As International Policy Advisor, she liaised with regulators and public sector entities, enhancing GFSC's role in global forums. Ana holds the Chartered Insurance Institute’s core qualification (CII) and a Global Certificate in Securities Markets Regulation from IOSCO/PIFS-Harvard Law School.

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