CEPS (Centre for European Policy Studies)’s Post

Skip the noise around Bitcoin — this landmark report dives into how DLT is already making real changes in capital markets today. We released this report in partnership with GFMA, Ashurst, and Sullivan & Cromwell LLP together with BPI, SIFMA, AFME (Association for Financial Markets in Europe), ASIFMA, Institute of International Finance, ISDA, FIA, Inc., Financial Services Forum, Global Blockchain Business Council (GBBC), and Global Digital Finance #digitalassets #dlt #capitalmarkets

Happy Friday everyone! This week’s research topic for my Board Advisor Prompt is sparked by the momentum around asset tokenization, with global banks and asset managers estimating the market could reach $10 trillion by 2030. My research topic is: “The Asset Tokenization Landscape.” Why it matters? • Tokenization of #realestate, art, carbon credits, and other illiquid assets is unlocking new liquidity pools. • #Regulatory frameworks remain fragmented and uncertain, raising compliance and governance questions. • #Fraud, valuation opacity, and custody risks could erode investor confidence if left unchecked. • Traditional financial models face disruption as blockchain-based infrastructure scales faster than policy adaptation. • Boards that act early can shape policy engagement, and capture first-mover advantage. When value itself becomes digitized, leadership means balancing innovation with safeguards that preserve trust in the system. The Board Advisor Prompt is in this link 👉 https://lnkd.in/eBEd4J4G Enjoy prompting, and use your #criticalthinking.

Your regulatory and policy insights cheat sheet - August 2025 edition. The global digital assets landscape is hardening into distinct models and the signals are getting clearer. Success metrics are shifting from open competition to picking winners, with alignment to banks, sovereign funds and large incumbents. The era of greenfield licences is fading fast. Policy settings that look noisy on the surface often represent continuity underneath. What matters is not the headline but whether you are inside the right relationships when approvals are handed down. Institutionalisation is now the centre of gravity. Commercial opportunity is moving from crypto-native entrants to traditional financial services and large players regulators trust to manage custody, balance sheets and risk. At the same time regulators are still applying traditional policy tools to a fast-moving market. The outcome is longer queues, proxy regulation and uneven enforcement with firms waiting while opportunities pass elsewhere. Localisation through tax receipts, jobs and institutional partnerships has become the new currency of credibility, but only if you are a market of interest.

 The Global Findex Database 2025 reveals both progress and gaps in financial inclusion: 1. 80% of people now own a financial account 2. 75% made/received a digital payment in 2024 3. Gender gap shrinks but persists in low-income economies 4. Nearly half lack emergency financial resilience The findings highlight the urgency of strengthening trust, digital infrastructure, and inclusive finance policies. 👉 Explore more..https://lnkd.in/dUdGj9Xs #FinancialInclusion #DigitalFinance #GlobalTrade #ITRC

RegTech TL;DR: Global Central Bank Advances, FCA Rule Shakeups & Essential Compliance Updates Today’s RegTech newsletter spotlights major movement in regulatory innovation and compliance for 2025. Central banks are accelerating digital asset regulatory frameworks, setting the tone for future finance. In the UK, new FCA payment safeguarding rules are reshaping the fintech landscape, creating crucial compliance touchpoints for developers and operators. We cover APRA’s fresh updates to Australia’s prudential regime, keeping financial institutions ahead on clarity and reporting. Meanwhile, the UGC’s revised academic deadlines add new dimensions to compliance in education, important for teams tracking regulatory timelines. A surge in RegTech hiring speaks to the growing convergence of skilled talent, regulation, and emerging technology as new mandates take hold. Our roundup features expert partnerships, like Cognizant and Temenos' Model Bank project for Australia, exemplifying the blend of technology and regulation. We also bring you insights from Asia’s fast-evolving RegTech and finance scene for global context. Stay informed. Stay compliant. For the full analysis, actionable insights, and early access to trends shaping tomorrow’s risk landscape, sign up for free at regtech.newslettergo.com #RegTech #Compliance #Fintech #DigitalAssets

💡 “𝘛𝘩𝘦𝘳𝘦 𝘢𝘳𝘦 𝘬𝘯𝘰𝘸𝘯 𝘬𝘯𝘰𝘸𝘯𝘴… 𝘢𝘯𝘥 𝘵𝘩𝘦𝘳𝘦 𝘢𝘳𝘦 𝘶𝘯𝘬𝘯𝘰𝘸𝘯 𝘶𝘯𝘬𝘯𝘰𝘸𝘯𝘴 — 𝘵𝘩𝘦 𝘰𝘯𝘦𝘴 𝘸𝘦 𝘥𝘰𝘯’𝘵 𝘬𝘯𝘰𝘸 𝘸𝘦 𝘥𝘰𝘯’𝘵 𝘬𝘯𝘰𝘸.” – 𝘋𝘰𝘯𝘢𝘭𝘥 𝘙𝘶𝘮𝘴𝘧𝘦𝘭𝘥 This idea resonates strongly today at the Financial Performance Conference 2025 by Zanders. Discussions highlight how tokenised deposits may become interchangeable with highly regulated commercial bank money, the importance of wallet infrastructure in enabling this shift, and how advances in cross-border payments, and AI-driven optimisation are redefining the way treasuries operate. Eager to hear how these innovations will reshape risk management in an increasingly digital financial ecosystem.

This month, we provide expert insights into the most relevant financial regulation changes across the EU and CEE region in the August edition of our "to the point: financial regulation" newsletter such as: European Union • ESG: EBA no-action letter on ESG disclosure requirements and updated ESG risks dashboard (December 2024 data) • Banks: #EBA final standards on off-balance sheet items conversion factors; final draft technical standards on unfinished property exposures under the Standardised Approach for credit risk; #RTS on prudential treatment of crypto-asset exposures; RTS on operational risk losses under #CRR3 • Insurance: #EIOPA opinion on AI governance and risk management Hungary •New criminal offences and #regulatory requirements for crypto-asset services •National Bank of Hungary recommendation on the transfer of non-performing loans Read the full update from our experts Kristýna Tupá, Martin Svoboda, Karolína Hlavinková, Gabor Pazsitka, Nóra Ordódy-Nagy LL.M, Šimon Pavlič, Szakonyi Anna and Vivien Veres here: https://lnkd.in/dY4g5p4G #financialregulation #bankinglaw #ESG #cryptoassets #insurance #AI #Schoenherr

The digital asset industry doesn’t need more promises. What it actually needs? Proof. Regulators are making one thing clear: transparency in digital assets isn’t a request, it’s a requirement. From the GENIUS Act in the U.S. to the SFC’s heightened oversight in Hong Kong, the message is consistent, accountability in digital assets must be demonstrated. Proof of Reserves is emerging as the industry’s benchmark standard for transparency and accountability. Exchanges, custodians, and token issuers now have access to full-suite attestation and auditing tools and professional service firms, enabling them to demonstrate trust in real time. This gives digital asset firms the opportunity to align with emerging global standards and remain prepared for future regulation.

Commission Delegated Regulation (EU) 2025/1125 specifies the granular information required for Asset-Referenced Token (ART) authorisation, thereby operationalising a new standard for prudential oversight and accountability. This development fundamentally re-orients the ART market from a trust-agnostic paradigm to one of institutional due diligence. For prospective issuers, the pathway to market entry now demands adherence to institutional-grade standards commensurate with traditional financial services. Key implications: Elevated Governance & Suitability: The application process mandates comprehensive disclosures on corporate legal identity, a three-year program of operations, and a granular risk assessment spanning business, operational, financial, and ICT risks. It also includes a "fit and proper" assessment of the management body and qualifying shareholders, ensuring a high standard of repute and expertise. Integrated Operational Resilience: The regulation's explicit nexus with the Digital Operational Resilience Act (DORA) embeds technological integrity as a core prerequisite for authorisation. Issuers must demonstrate robust frameworks across all five of DORA's pillars: ICT risk management, incident reporting, resilience testing, third-party risk management, and cyber threat information sharing. Strategic Compliance in a Fragmented Landscape: The EU's harmonised, ex ante approach to ARTs stands in stark contrast to the modular, dual federal-state model in the US and the phased, framework-extension strategy employed by the UK. This jurisdictional divergence necessitates a sophisticated, cross-jurisdictional compliance strategy for global firms, reinforcing the institutionalisation of the stablecoin market. #CryptoRegulation #MiCA #FinTech #Stablecoins #EU #Compliance #DORA https://lnkd.in/eKwMRP5A

Falling short on DORA? A costly mistake. The Digital Operational Resilience Act (DORA), effective January 17, 2025, marks the EU's response to the complex, fragmented digital landscape within finance. Much like MiCA addresses digital asset regulation, DORA aims to establish a unified, secure, and stable ICT environment across the EU. For organization that fail to comply with the new standard, the key risks include: • Enforcement Actions: National regulators are empowered to issue fines or mandate remediation. • Licensing Impact: DORA is now part of supervisory assessments for CASPs under MiCA. • Operational Fallout: Inadequate controls can lead to outages, data loss, or client fund exposure. • Reputation: A lack of preparedness signals risk to partners and investors alike. At Finery Markets, compliance is part of our core infrastructure, not an afterthought. That’s why working with us, you are ensuring your operations remain under check in the current and future regulatory environments. Contact us to learn more 👇 https://lnkd.in/euKwiZrq #DORA #MiCa #EU #DigitalAssets #Crypto