Updated: Nov 25, 2021
Cryptocurrency has grown from a speculative play to a notoriously volatile and darker-toned innovation that has been widely embraced more so in recent years. While this is undoubtedly where the future lives on, it is on other occasions riffed with scams, abuse, and fraud.
Now regulators, other agencies, and consumers themselves are racing to address these risks that are affecting them and financial markets on a global scale.
One of the biggest questions facing the industry is whether regulation fits in the reputation of decentralised finance? If so, is it hindering innovation or is it exactly what’s needed for this industry to not only grow but protect it? The answer to those questions helps determine the course of action for many in the field.
So we’ve asked Timo Lehes of Swarm Markets — Managing Director of the world’s first BaFin-regulated DeFi platform and Brian Sanyah Mondoh, esteemed crypto advisor at The Cake, Barrister & Attorney at Law, and Co-Founder at BLOCK6TY & NXTDIMEN$IO with where their head is at with regulation vs. decentralised.
Why regulate — what does regulation enable you to do? What are the disadvantages to being regulated?
How do you achieve regulation while pursuing core principles of Defi?
How does the unregulated Goliath adapt to regulation?
For most people, decentralisation is an expression of freedom to the system, a real difference to nations who can’t trust their rulers, and to a greater degree, a new platform for people who can’t access banks. Crypto represents an avenue for them to do just that, but how does regulation affect this... not just now, but in the future?
Having heard Timo and Brian’s thoughts on the subject and with more countries adapting to the promise of this new industry and so-called “Wild West”, I wonder where ‘bringing sanity' to this system leads.
This is one part of a 7-part #CryptoRegs series.
Meet Timo Lehes
Timo Lehes is an entrepreneur and FinTech and Blockchain Investor. Selected exits include AdTech company, Admetam virtualisation management software business, Witsbits, and online surveillance tech solution, MindMancer. Lehes also has experience as a fund manager, running the US arm of Chalmers Innovation Capital and working as an M&A advisor at Logan-Orviss/Azure. He holds a Master's degree in computer science and data communication from Chalmers University of technology.
Contact Swarm Markets and Timo
Meet Brian Sanyah Mondoh
Brian is a Dual-Qualified Barrister and Attorney-at-Law in a mixed Common law set in Trinidad and Tobago with a demonstrated history of working in the legal services industry. Skilled in Civil law, Commercial law, Entertainment Law, and Intellectual Property law. Qualified to take cross-border instructions throughout the Commonwealth Caribbean.
Contact The Cake.Chat and Brian