The results of round table on Digital Financial Assets and Blockchain Regulation at the Moscow Stock Exchange

September 22, 2018

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We are excited to share the great results of the series of high profile events devoted to digital financial assets that took place in Moscow this week.

 

Together with NEM and bitFlyer we were the key note speakers at the round table on the future of financial markets and state regulation of digital financial assets, held at the Moscow Stock Exchange on 20 September.

Rikiya Masuda, Head of the European division of bitFlyer and Andy Bryant, COO of bitFlyer shared with the round table guests bitFlyer’s experience on what was required to bring the big players to the crypto exchange. “To be honest, Japanese market is quite unique because a lot of individual traders used to trade stock or FX even before the crypto start, so we didn’t really need to approach specifically to the kind of large liquidity provider in Japan. BitFlyer liquidity was built over time in an almost organic way by simply inviting those individual traders”. Andy Bryant commented “Custody, of course, is very important and I think is one of the biggest topics of the upcoming years”.

 

Prior to the MOEX round table VNX took part at the closed working group with the largest Russian banks, funds, and wealth managers. Litecoin, bitFlyer, NEM and VNX top managers shared their views on the current trends in regulation of digital assets in key the jurisdictions of the world, investment tools, benefits and ways of digital assets structuring for large capital.

 

Kristof Van de Reck, President of NEM: “Custody is not a technological problem. The technology allows you to create the governing structure that fits in any environment that is legally necessary. It’s more about bridging the gap between technology and the industry itself”.

 

We would like to express our special thanks to the events’ honored guest – Luc Frieden, Luxembourg’s former Minister for Justice and Minister for Finance, Member of the BoD of the Luxembourg Stock Exchange, and Chairman of the BoD  of B.I.L., Partner at ELVINGER HOSS, for accepting our invitation to participate at this sessions. As a special guest, Luc Frieden was speaking about Luxembourg as the Europe’s financial and innovation hub and regulatory issues connected with digital assets and blockchain regulation: “As a lawyer, I think that the law always follows the technology because it is very difficult to anticipate in the legal framework what the technology will bring.”

Karl Pardaens, Partner at ELVINGER HOSS added: “The doors for crypto ETFs are not closed, but it is still under discussion”.

 

One of the topics of “Digital Assets and Blockchain Regulation” round table at MOEX was presented by Alexander Tkachenko. He spoke about tokenization of financial markets as a new investment instrument that allows to bring liquidity to the venture capital industry.

 

Moreover, as part of the round table at the MOEX, the investment fund ADDCAPITAL concluded an agreement with VNX Exchange on listing secondary-market venture capital assets worth $20 mln.