Players in the finance industry talked a lot about crypto at the 2023 World Economic Forum. Among the speakers on the issue is Klaas Knot, the president of the Dutch Central Bank. The latter was particularly interested in the places in the world where bad crypto actors often find refuge. Here is what was said about these jurisdictions.
Singapore, London and Dubai: Destinations for Bad Crypto Actors?
Attendees at the Davos 2023 forum didn’t just talk about the urgency of regulation for crypto. They also discussed the consequences of recent crypto business collapses on the financial sector. As CoinDesk reported in a tweetpolicy makers also had to answer difficult questions during this event.
The Minister of State for Artificial Intelligence and Digital Economy of the United Arab Emirates intervened in this context. Omar Bin Sultan Al Olama notably talked about the jurisdictions that crypto bad actors target the most. He indicated that we find Singapore, London and Dubai among the latter. He added that these places are preferred because people give them some credibility.
The president of the Dutch central bank has not failed to criticize these jurisdictions that bad actors prize. Klaas Knot said: “ Many of these cryptoassets are offered from places that I would describe as sunny places for sleazy people “. Faced with this comment, Minister Al Olama reacted, stressing that bad actors do not have a ” destination ” specific.
” You will see them everywhere. You’ll see them in the Bahamas, you’ll see them in New York, in London, and what we need to do as governments is work together, with industry as well, to ensure that if anyone does something bad thing, he can’t move from place to place “, he explained.
At the World Economic Forum, Klaas Knot suggested that you need to differentiate blockchain from cryptoassets. For the cryptoskeptic, the latter is certainly a technology full of advantages. Klaas Knot said: “ One of the things is that the benefits of this technology are beyond doubt. I mean, no one questions the use of technology “. He said regulators should focus more on how to harness the benefits of blockchain technology.
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