How can governments create virtual assets and blockchain-related regulations that foster innovation while reducing associated crime? This special event offers cross-sector insights into key principles for managing virtual asset risks and shaping effective regulation.

This special event takes place in hybrid format on Emerging Tech day at the 11th Conference of the States Parties to the UN Convention Against Corruption in Doha, Qatar.

Speakers

• Marta Olowska, Crime Prevention and Criminal Justice Associate, UNODC (moderator)
• Maha Al-Saadi, Head of Regulatory Affairs, Financial Services Sector, Qatar Financial Centre
• Tamar Latsabidze, Acting Chief Specialist, Regulation and Support Division, Payment Service Providers Supervision and Virtual Asset Service Providers Registration Department, National Bank of Georgia
• Bogdan Vacusta, Strategy Consultant, Cryptoassets and Digital Currencies, National Bank of Romania
• Robert MacDonald, Chief Legal and Compliance Officer, Bybit
• Gabriel Hugonnot, Seconded National Expert to the European Commission, Directorate-General Financial Services and Markets

Details and online registration

• Date and time: Tuesday 16 December, 08:45–10:30 AST | 10:45–12:30 CET
• Co-organisers: Basel Institute on Governance, OSCE, UNODC
• Location: Room 4, Sheraton Doha Grand Resort and Convention Hotel
• Register for virtual participation

Further details

This session will explore the rapidly evolving landscape of distributed ledger technologies (DLT) and their expanding use cases, including not just crypto or virtual assets but also the growing asset tokenisation sector.

These innovations are reshaping the financial architecture and promise benefits in terms of speed, ease of cross-border transfer, reduction in intermediaries, low-cost and fractional trading and more. 

Yet, many of these features introduce new vulnerabilities. If not properly regulated, or if regulations are not effectively enforced, they can facilitate corruption, other financial crimes and related money laundering – by obscuring the origins of funds and their beneficial ownership, or through the manipulation of decentralised protocols.

This panel will explore how regulators and supervisors are adapting to the rise in the use of virtual assets, including tokenised real-world assets. It will cover the financial crime implications – positive and negative – and examine how regulators can find the right balance: encouraging business growth and financial inclusion while safeguarding the financial system and protecting customers. 

A key focus will be on the use of data and blockchain intelligence as a basis for harmonised, effective digital assets regulation, supervision and cooperation on cross-border risks.

The speakers represent different sectors and perspectives, as only through a collaborative approach can regulation be shaped that protects customers, prevents criminal misuse and fosters responsible innovation.

The aim of the session is to inspire governments to strengthen their capacity to assess and understand the financial crime risks linked to emerging financial technologies, and to develop, adjust and implement effective regulatory frameworks that support rather than hinder the fight against corruption and related financial crimes.

Background reading

• Global experts advance the joint fight against crypto-enabled crime – joint press release from the 9th Global Conference on Criminal Finances and Cryptoassets by the Basel Institute on Governance, Europol and UNODC
• Designing robust cryptoasset frameworks: Practical takeaways from international regulators and supervisors
• Crypto: the ultimate enabler of corruption?
• Developing blockchain intelligence standards and interoperability: a critical need to fight financial crime in the digital age