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Hosted by
Karin Keller-Sutter
Federal Councillor & Head of the Federal Department of Finance, Switzerland
Nick Gersh
Senior Regulatory Counsel
Paxos
Nick Gersh is Senior Regulatory Counsel at Paxos, where he focuses on supporting global, compliant stablecoin issuance in an evolving regulatory landscape. His work includes navigating major regulatory frameworks such as the forthcoming Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in the United States, the European Union’s Markets in Crypto-Assets (MiCA) regulation, and Singapore’s proposed Stablecoin Regulatory Framework (SCS Framework).
Prior to joining Paxos in 2025, Nick worked at Dechert LLP, advising on regulatory and criminal enforcement matters, with a particular focus on digital asset companies and individuals during a period of heightened government scrutiny of the industry. Earlier in his career, he worked as a plaintiff-side litigator on federal securities cases after clerking for the Honorable Janis Graham Jack in the Southern District of Texas. Nick earned his law degree from Harvard Law School.
Speaking at
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11:30am–12:00pmTue 23 JunWorkshopWorkshop Room, Level 1Open
Others
Crypto Rails for Everyday Payments: Building the User, Regulatory, and Trust Layers That Make It Work! - Powered by Kraken (Payward)
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Evaldas RuzgysMember of the BoardBank of Lithuania
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Matthias Bauer-LanggartnerHead of Policy, EuropeChainalysis
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Nick GershSenior Regulatory CounselPaxos
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Jonathan JachymGlobal Head of Policy & Market StructurePaywardModerator
About this session
Payments is where crypto either earns its place in the real economy or doesn't. Stablecoins now move meaningful volume, but most everyday users still can't navigate wallet addresses, and most regulators are still working out how to supervise a payment instrument that settles on public infrastructure. The gap between “technically possible” and “actually used at scale” is the most interesting policy and product problem in the space right now.
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12:00–1:30pmWed 24 JunGFTN InsightsRoundtable Room 1, Ground FloorOpen
Blueprint for Digital Assets
Global Stablecoin Regulatory Frameworks: From Principles to Practice
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Emma ButterworthHead of Innovation & Payments PolicyBank of England
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Eszter MajorLawyerState Secretariat for International Finance
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Jo YeoDirectorMonetary Authority of Singapore
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Kwadwo BotweFintech SupervisorBank of Ghana
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Marianne BecharaSenior CounselInternational Monetary Fund
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Matthew OsborneDirector of Policy for EuropeRipple
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Nick GershSenior Regulatory CounselPaxos
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Patrick HansenSenior Director, EU Strategy & PolicyCircle
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Peter GoodrichMember of SecretariatFinancial Stability Board
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Peter KerstensAdvisor, DG FISMAEuropean Commission
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Stephanie CabossiorasChief Strategy & Global Policy OfficerSociete Generale-FORGE
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Jannah PatchayExecutive in Residence & Board MemberGlobal Digital FinanceModerator
About this session
The January 2026 publication of the GDF Global Stablecoin Regulatory Playbook marked a pivotal moment in the evolution of digital asset oversight. For the first time, a comprehensive, principles-based framework has been developed, by and for stablecoin issuers, to establish shared terminology, foundational concepts, and outcome-oriented principles for stablecoin regulation across jurisdictions.
Yet the core challenge identified by the Playbook remains urgent: despite growing convergence on broad objectives, significant divergence persists in legal classification, terminology, reserve requirements, and redemption standards across the US (GENIUS Act), EU (MiCA), UK, Singapore, UAE, and beyond.
This fragmentation creates compliance burdens for global issuers, undermines cross-border scalability, and risks undercutting the very benefits - frictionless payments, financial inclusion, monetary efficiency - that stablecoins are positioned to deliver.
This roundtable convenes regulators, policymakers, and senior industry participants to analyse the GDF Playbook's findings, stress-test its recommendations against real regulatory experience, and identify actionable pathways toward greater international alignment.
Why Now?
Stablecoins have moved decisively from experiment to infrastructure. The GENIUS Act has established a federal US framework; MiCA has come into force across the EU; Singapore, Hong Kong, the UAE, and the UK have each enacted or are finalising their regimes. The window for shaping global interoperability, before these frameworks calcify into divergent silos, is narrow.
The GDF Playbook provides a neutral, issuer-grounded reference point from which regulators, policymakers, and industry can build shared understanding. This roundtable is designed to translate that reference point into regulatory action - identifying where equivalence determinations are ripe, where supervisory cooperation agreements should be deepened, and where international standard-setters should focus their attention.
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