Nick Cook

Not my numbers. a panel including folks from the big asset and investment managers reckoned we were talking about c$5-15tn each year for 5-7 decades. The actual figure is almost certainly erroneous, but the key point was that the order of magnitude costs dwarf taxpayer capacity

🤫 RegTech and SupTech continue to garner insufficient attention in dialogue and public fora between industry and regulators.

⚖️ DeFi will necessitate a re-evaluation of the balance between desired citizen agency, regulatory paternalism and consumer protection. Do those who lost out in Terra|Luna still crave the agency that decentralisation may afford?

✅ The evidence and proof that blockchain/defi can materially increase financial inclusion is not yet obvious. Further attention and focus will be required.

🌍Governments/taxpayers cannot possibly afford the cost of transition to net zero. ~$10 tn per year for several decades will be required. Transition pathways (brown to green), reliable data and measurement are essential to allow private capital to flow.

🏛When it comes to stablecoins and other innovations, regulators may be better to pursue the mantra of “same risks, same outcomes” rather than “same risks, same rules”.

🏗 In a bear market, focus must turn to building for value. Those who can delight customers and solve real use cases can emerge from the downturn as giants.

❄️The crypto winter may help to close some of the policy/positioning gaps between regulators and industry and ought to drive renewed focus on utility over speculation.

My 7 observations and takeaways from @pointzeroforum

Iteration is a key ingredient of innovation. Start small, learn fast, adapt and scale. There was no playbook for regulatory hackathons when we started out. Today we share our TechSprint playbook for others to use and improve. #FCASprint #Regtech