Regulated Markets and Blockchain Technology

Technology can change commercial relations, markets and, in general, the economy, but it does not change human beings. In the cryptoasset markets we still have problems similar to those we have in the rest of the markets, but which are accentuated by the absence of regulation and the possibilities of innovation that tokens allow.

The alleged operations that are being revealed in the FTX/ALAMEDA case (exchange operations with irregular deposits, artificially generating assets with annotation of balances, intra-group reciprocal financing, price manipulation, etc.) are complicated by the issuance of its own TOKEN, the FTT, on whose value a large part of its system is based and which serves to justify investments, artificially increasing the value of the group and, at the same time, being used to collateralize intra-group loans. And, all this, without regulation of these operations, without any supervision of their activities. In crypto-asset markets that are not "security", regulation and supervision are essential and should be implemented as soon as possible.

On the contrary, and as such a supervisory regime already exists in financial instruments markets, what is necessary there is to adapt the regulation to the technology, encouraging innovation and allowing to apply all the efficiencies that Blockchain and cryptoassets allow us, but without losing stability, market integrity and investor protection.

To explain all these variables, do not miss the meeting we are sponsoring on November 22 together with the digital newspaper El Confidencial. In it, both we and Luis Pastor, managing partner of Business and Innovation Consulting, will review the main issues surrounding the world of cryptoassets and analyze the importance of regulation.