Report from FTI Consulting and The Block Analyzes Regulatory Action Over Global Digital Assets Markets
17 Agosto 2023 - 8:30AM
FTI Consulting, Inc. (NYSE: FCN) today announced that the firm’s
Technology segment, in conjunction with The Block Pro, which
provides research covering the digital assets, fintech and
financial services industries, has released an in-depth examination
of the state of digital assets enforcement and regulation
worldwide. The report, Trends in Regulation of Digital Assets,
provides detailed reporting of the new laws, litigation and
government investigations across the blockchain and digital assets
environment, including commentary and analysis from lawyers in the
industry.
According to the report, all major international jurisdictions
are increasing regulatory activity and oversight surrounding
digital assets, though through a wide variety of approaches. The
U.S. has pursued regulation by enforcement, wherein enforcement
actions are taken to clarify and impose existing rules, rather than
establishing new, dedicated laws for the industry. Under this
approach, the Securities and Exchange Commission is on track to
eclipse its 2022 enforcement action, which was up 50% from 2021. To
date, the SEC has initiated 23 administrative proceedings or
litigations in the digital assets sector, all under legacy
legislation. Separately, the European Union, the United Arab
Emirates, the UK and several countries in the Asia Pacific and
Latin America regions have implemented robust regulatory frameworks
directly aligned to digital assets, with some establishing
processes for financial institutions to obtain special licensing to
operate in digital assets markets.
“The nuanced infrastructures, varied products and technical
intricacies across different forms of digital assets pose
significant obstacles to the development and implementation of
effective digital assets regulations,” said Steven S. McNew, a
Senior Managing Director and Global Leader of Blockchain &
Digital Assets at FTI Consulting. “Traditional regulatory
approaches struggle to fully capture and address the industry’s
complexities. Yet the absence of regulatory clarity makes it
difficult for industry players to establish governance, innovate
and pursue wider adoption. This research report provides a level
set, which will help organizations better understand their risks
and opportunities in the current regulatory environment, and plan
for expected developments on the horizon.”
Read the full report from The Block Pro, with analysis from FTI
Technology’s Blockchain & Digital Assets experts and leading
lawyers in the industry, here. The lawyers who shared their
insights for the paper include:
- Justin L. Browder, Partner, Willkie Farr & Gallagher
LLP
- Mitzi Chang, Partner, Goodwin Procter LLP
- Meagan E. Griffin, Of Counsel, Fintech and Payments Group, Paul
Hastings
- A. Kristina Littman, Partner, Willkie Farr & Gallagher
LLP
- Nicholas J. Losurdo, Partner, Goodwin Procter LLP
- Robert A. Musiala Jr., Partner and co-leader of the Blockchain
Practice, BakerHostetler
- Michael Selig, Counsel, Willkie Farr & Gallagher LLP
- Tiffany J. Smith, Partner, Wilmer Cutler Pickering Hale and
Dorr LLP
- Karen Ubell, Partner, Goodwin Procter LLP
About FTI ConsultingFTI Consulting, Inc. is a
global business advisory firm dedicated to helping organizations
manage change, mitigate risk and resolve disputes: financial,
legal, operational, political & regulatory, reputational and
transactional. With more than 7,800 employees located in 31
countries, FTI Consulting professionals work closely with clients
to anticipate, illuminate and overcome complex business challenges
and make the most of opportunities. The Company generated $3.03
billion in revenues during fiscal year 2022. In certain
jurisdictions, FTI Consulting’s services are provided through
distinct legal entities that are separately capitalized and
independently managed. For more information, visit
www.fticonsulting.com and connect with us on Twitter
(@FTIConsulting), Facebook and LinkedIn.
FTI Consulting, Inc.555 12th Street NW
Washington, DC 20004 +1.202.312.9100
Investor Contact:
Mollie Hawkes+1.617.747.1791mollie.hawkes@fticonsulting.com
Media
Contact:
Ashley Allman +1.206.369.5209ashley.allman@fticonsulting.com
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