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Investor Protection in the Age of Cryptocurrencies: Risk Management at Every Step of the Journey

In recent years, the function of popular cryptocurrencies has shifted. While originally designed as payment instruments, they are nowadays more frequently used as highly volatile investment objects by a variety of investors including retail investors. While a BIS Working Paper showed that between 2015 and 2022 an estimated 73-81% of retail investors have likely lost money on their initial investment in Bitcoin, recent reviews by IOSCO and FSB found that investor protection is still underdeveloped in this area.

This raises the question how and to what extent investors, especially retail investors, must be protected. Starting with a discussion on the available data, the panellists will discuss gaps in current regulation and concepts for an appropriate cryptocurrency regulation architecture in the area of (retail) investor protection.

Speakers

Jasper Bets

Jasper Bets

Senior Supervision Officer MiCAR/Crypto, Dutch Authority for the Financial Markets (AFM)

Merion Anggerek

Merion Anggerek

Director & Head of Capital Markets Policy Division, Markets Policy & Consumer Department, Monetary Authority of Singapore

Richard Gabbert

Richard Gabbert

Chief of Staff, Crypto Task Force, US SEC

Ryosuke Ushida

Ryosuke Ushida

Director for International Policy, International Affairs Office, Financial Services Agency of Japan (JFSA)

Sarah Jungo

Sarah Jungo

Attorney-at-law / Senior policy advisor, State Secretariat of International Finance

Scott Bauguess

Scott Bauguess

VP, International and Regulatory Policy, Coinbase

Prof. Susan Emmenegger

Prof. Susan Emmenegger

Professor, University of Bern

Moderator

Léonard Bôle

Léonard Bôle

Member of Executive Board, Swiss Financial Market Supervisory Authority (FINMA)

Matthias Obrecht

Matthias Obrecht

Head Supervision New Technologies, Swiss Financial Market Supervisory Authority (FINMA)