The sole mainstage panel focused explicitly on crypto at WEF23 saw policymakers and a crypto CEO face tough questions about the recent market mayhem and company collapses. iamsandali reports from davos23
DAVOS, Switzerland – Two European regulators, an Arab lawmaker and a lone crypto CEO sat down with a journalist in a snowy ski town on Thursday – and pretty quickly, the room was sweltering.
The panel kicked off with the United Arab Emirates' Minister of State for artificial intelligence and the digital economy Omar bin Sultan Al Olama saying his jurisdiction’s innovation-friendly regulatory approach was far from “light touch” and ensured no crypto companies – including Ripple, whose CEO Brad Garlinghouse was sat next to him – currently had licenses from watchdog the Virtual Asset Regulation Authority .
Bad actors seek out jurisdictions such as Singapore, London or Dubai because"people give" these places a"certain amount of credibility," Minister Al Olama said.as authorities in South Korea launched a global search to locate him, Minister Al Olama claimed he hadn’t. Klaas Knot, president of the Dutch central bank and head of the Financial Stability Board, an international group, took aim at jurisdictions that attract crypto-types for having lax oversight – a subject that has come to the forefront as the abrupt collapse of Sam Bankman-Fried’s Bahamas-based FTX“Many of these crypto assets are offered from places that I would call sunny places for shady people,” Knot said.
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