The trajectory of the crypto sector has been marked by a number of events over the course of this year from the crypto-winter (including instability in crypto markets, the collapse of Terra (an algorithmically-backed stablecoin supplemented by a reserve of Bitcoin) and consequential failures of crypto-related firms) through to the collapse of the centralised crypto trading platform FTX and most of its associated businesses. The regulatory message from Sir John Cunliffe has been consistent throughout: we need effective regulation of crypto technologies in finance.
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Innovators, alongside regulators and other public authorities, have an interest in the development of appropriate regulation and the management of risk. It is only within such a framework, that they can really flourish and that the benefits of technological change can be secured.
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