Roundtable: From Global Standards to Cryptoasset Regulations

February 2025

This note summarises the content of discussions at the roundtable “From global standards to cryptoasset regulations” held on November 5, during the Insights Forum of the Singapore Fintech Festival. The roundtable was hosted by the Cambridge Centre for Alternative Finance (CCAF). There is a list of the institutions of participants in the discussion in the Annex to this summary note.

The objective of the roundtable was to promote a common understanding of the challenges in translating global standards into regulations that align with the institutional frameworks and unique market features of different jurisdictions. The discussion was also intended to identify obstacles to cross-border cooperation and information sharing and what additional support the global regulatory community, particularly those in Emerging Markets and Developing Economies (EMDEs), need to overcome such barriers.

The roundtable started with the presentation of the key findings of CCAF 2nd Global Cryptoasset Regulatory Landscape Study - Emerging Practices and Early Lessons Learned. The study shows that despite the adoption of comprehensive standards and recommendations by global standard setting bodies, the regulatory landscape remains fragmented. Divergence is evident in areas such the rules for issuers, including stablecoin issuers, disclosures and admissibility of assets to trading, as well as service providers. Jurisdictions also differ significantly in their approaches to protect retail investors. Participants heard about the possible reasons for convergence and divergence of regulatory frameworks and some early lessons that can be drawn from the analysis of their implementation.

The subsequent discussion was divided into three parts. At the start of each part, the Chair presented the results of a poll conducted on the previous day among members of the participants in the Insights Forum (you can see the results of this poll in the Annex to this summary note).