Featured speakers
Hosted by
Karin Keller-Sutter
Federal Councillor & Head of the Federal Department of Finance, Switzerland
Richard Gabbert
Chief of Staff, Crypto Task Force
US SEC
Richard Gabbert is Chief of Staff of the Securities and Exchange Commission’s Crypto Task Force. From January 2018 to January 2025, he was counsel to Commissioner Hester Peirce. Prior to joining the Commissioner’s office, he was a Senior Special Counsel in the Office of Derivatives Policy in the Division of Trading and Markets at the SEC, where he focused on the implementation of derivatives market reforms required by Title VII of the Dodd-Frank Act. He has been involved extensively in several Title VII rulemakings, including rules further defining “security-based swap dealer” and “major security-based swap participant” and rules addressing the cross-border regulation of derivatives markets. Richard participated in the Mansfield Fellowship Program from 2016 to 2017, during which he worked at the Financial Services Agency and the Bank of Japan, among other organizations.
Speaking at
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4:00–5:30pmWed 24 JunGFTN InsightsRoundtable Room 1, Ground FloorOpen
Blueprint for Digital Assets
Investor Protection in the Age of Cryptocurrencies: Risk Management at Every Step of the Journey
GFTN InsightsRoundtable Room 1, Ground FloorOpen
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Jasper BetsSenior Supervision Officer MiCAR/CryptoDutch Authority for the Financial Markets (AFM)
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Merion AnggerekDirector & Head of Capital Markets Policy Division, Markets Policy & Consumer DepartmentMonetary Authority of Singapore
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Richard GabbertChief of Staff, Crypto Task ForceUS SEC
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Ryosuke UshidaDirector for International Policy, International Affairs OfficeFinancial Services Agency of Japan (JFSA)
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Sarah JungoAttorney-at-law / Senior policy advisorState Secretariat of International Finance
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Scott BauguessVP, International and Regulatory PolicyCoinbase
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Prof. Susan EmmeneggerProfessorUniversity of Bern
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Léonard BôleMember of Executive BoardSwiss Financial Market Supervisory Authority (FINMA)Moderator
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Matthias ObrechtHead Supervision New TechnologiesSwiss Financial Market Supervisory Authority (FINMA)Moderator
About this session
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. -

