Will Tokenized Deposits Displace Stablecoins. My interview with @kkvanderleest, US General Manager at @BVNKFinance. The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

What a week in crypto! My point of view on the following in my newsletter this week: - Visa's $2.5 billion potential acquisition of Fireblocks - Canada issuing new stablecoin rules, - HSBC launching its own HKD stablecoin, - OCC issuing GENIUS stablecoin rules, and - France and the UK seeking new guidance on DeFi. Sponsored by @elliptic #Bitcoin# #Crypto# #stablecoins# #DeFi#

How Will AI, Know-Your-Agent, and Multi-Hop Tracing Shape Crypto Compliance? My interview with @kkvanderleest, US General Manager at @BVNKFinance. The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

How Crypto Compliance Needs to Evolve to Deal With RWAs and Tokenization. With @SavinoVaness , Chief Legal Officer at @tZERO , sharing insights on how tokenization is shifting from early experiments with illiquid assets toward highly liquid instruments like treasuries and equities. In this episode, we discuss: - How has tZERO shifted its core business model to provide end-to-end "infrastructure as a service" for tokenized securities? - Why did early tokenization efforts fail to make illiquid assets like real estate liquid, and how did treasuries become the true "killer app"? - What are the key structural differences between native on-chain tokens, security entitlements, and synthetic wrappers? - How are updated SEC guidance and single-license regulatory permissions shaping institutional adoption and compliance? - How is tZERO expanding beyond securities into CFTC-regulated derivatives, event contracts, and global partnerships? The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

Moderated a very interesting panel this month on the future of crypto regulations and cross-border challenges with @krakenfx CEO @arjunsethi , former CFTC Commissioner @BrianQuintenz , @varadubai Vice-Chair Deepa Raja Carbon and @HyperliquidPC CEO @jchervinsky. Some interesting takeaways from my panelists: - Will be difficult for Congress to roll back the rules made by both the SEC/CFTC as there is de facto bi-partisan support for many of the #crypto# policies (note: this is the opposite view from what former New York Governor Cuomo mentioned earlier on another panel) - Prediction markets should be regulated by the CFTC and not by the States and yes, this is probably going to the Supreme Court - Hyperliquid and #DeFi# more broadly should be allowed in the US and trying to block it will simply bring the activity offshore -With over 50 firms licensed, Dubai has been a case study of how to listen to the crypto ecosystem, create regulations that are strict but transparent and build a community. I will share the recording of the panel in the coming weeks on my YouTube page so make sure to susbcribe not to miss it:

Was on stage with OKX CEO @star_okx and former New York Governor @andrewcuomo in Singapore at @token2049. Couple of takeaways from the panel: - Governor Cuomo believes the crypto rules brought forward by the SEC and CFTC to try to compensate for the failure of the Clarity Act are politically very vulnerable. - As Governor Cuomo mentioned in an op-ed recently, Democrats will try to prove their claims that the current administration is corrupt and their actions designed to benefit certain individuals and political donors. Whether those claims are fair or not, they will drive the politics. And the politics will drive the oversight. And the crypto industry may become a victim of this. - Governor Cuomo also reiterated that the legislature has many tools at its disposal: it can limit funding for agency programs, pass legislation overriding agency actions, or use the Congressional Review Act to repeal certain regulations. Congress also has the power to investigate and issue subpoenas that can wreak havoc when coupled with public hearings. - A top priority for the next Congress should be to put politics aside and pass bipartisan legislation authorizing digital asset activities. Whether that will happen remains to be seen. - Separately, the convergence of crypto and tradfi is here and the recent partnership between the @NYSE and @okx is a good example. - Compliance will be a key differentiator moving forward for the Tier 1 crypto players especially as TradFi and digital assets converge. OKX been doing very pioneering work in this space, especially when it comes to AI agents. I will share the recording of the panel in the coming weeks on my YouTube page so make sure to subscribe not to miss it:

Can Traditional Sanctions Work in Crypto? My interview with Kevin Carr, Chief Risk and Compliance Officer at @raincards. The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

My PoV on who was behind the Ledger hack in this latest episode of Crypto Capsule Commentary. As well as my PoV on the OCC debanking report and why Sweden is exploring CBDCs once again.

Another important week in crypto: -the OCC releases its report highlighting debanking practices including towards crypto firms -crypto exchange Kraken not only obtains its VARA license but also becomes the first crypto firm to buy a bank in Europe -Sweden is exploring CBDCs (again!) after years of conducting pioneering work in this space. I cover the above and much more in my newsletter this week! Sponsored by @elliptic #Crypto# #Bitcoin# #Stablecoins#

Like any Montrealer, I have been a huge fan of the @CanadiensMTL all my life. Last week, fellow Canadian and probably the best MC in the market Andrew Work hid a Habs t-shirt under his blazer when he was introducing me on stage. One of the most personal and fun intros that I have ever been given! Thank you @mrgandrewwork ! I now even try to catch the Habs across North America when the team is travelling and I happen to be "close". The second pic below is from the season opener last month in Toronto!

How Will Stablecoins and AI Change Crypto Compliance. With @kkvanderleest, US General Manager at @BVNKFinance, to discuss crypto payments, stablecoins, AI driven compliance, and how traditional finance is adapting to blockchain technology. In this episode, we discuss: - How does BVNK function as a stablecoin payment infrastructure provider? - Will tokenized deposits replace stablecoins in global financial flows? - Why is market consolidation expected among on-chain digital assets? - How is artificial intelligence transforming on-chain transaction monitoring? - What compliance complexities do traditional financial institutions face on-chain? The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

My key takeaways from @token2049 in Singapore last week (as the only person who has spoken to every single #Token2049# event since the first one in 2018 in a hotel in North Point Hong Kong!) - you could feel the bear market by the absence of degen crypto bros and late night parties. Most of the companies that had a booth were spending their 2025 budget (especially due to the Dubai event cancelled earlier this year). I would expect a number of the crypto firms present to shut down in the coming months unless the market recovers drastically. - this was by far the most institutional Token 2049 event ever. Most large financial institutions were present and, despite the bear market, they are all actively building in this space. Definitely less window dressing and real work being done here. And crypto is owned by the business with real PnL goals and not the innovation teams for pure window dressing like before. - tokenization was a big topic, especially from tradfi, and most expect RWA assets to continue growing onchain rapidly. Onchain yield via vaults, lending protocols and curators also drawing curiosity from large tradfi players. - the intersection of AI and crypto is becoming very interesting. There seems to be finally understanding that crypto is the only way that the agentic economy will be able to operate. - many firms are focused on survival so topics like compliance and governance have taken the back seat. This is particularly the case in the U.S. where many of the firms want to take advantage of this window of opportunity due to the low expectation of supervision and enforcement at least at the federal level for the coming months. - perhaps in part due to the above, the U.S. continues to be the best place to build a crypto firms now and a priority market for all crypto firms. As for their global hub, Dubai/Abu Dhabi are by far the preferred choice. Dubai was the only jurisdiction with a large presence at the event. The absence of Asian or other EU regulators at an event in Singapore was also very interesting. I had the privilege of being on stage not only at the main event but across the city numerous times last week. I will share my key takeaways on LinkedIn/X over the coming days and will share the recording of all my panels on my YouTube page. Make sure to also follow me on YouTube page not to miss them: #Bitcoin# #Crypto# #Stablecoins#

The OCC released its report on debanking practices by some of the major banks. The #crypto# industry was a direct victim of these practices in what was called Operation Choke Point 2.0 where accounts with links to not only companies but also individuals linked to digital assets were shut down. Interestingly, the report only mentions crypto in passing (digital assets is mentioned only 4 times) and instead focuses on denial of banking services due to religious (e.g. anti-LGBTQ organizations) or political views (e.g. merchants of MAGA merchandise). But overall, this is a very good report from the @USOCC that highlights the clearly discriminatory practices that were used by banks in recent years. The actual report is available here: 

Will AI Replace Humans in Compliance? My interview with Kevin Carr, Chief Risk and Compliance Officer at @raincards. The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

Hosted another Future of Money private dinner in Singapore last week to discuss the future of Bitcoin and crypto asset management.  The format is simple: limited to 18 curated guests, one table with pre-assigned seating and one moderated conversation to ensure everyone can connect and learn from each other.  Thank you to @maplefinance for sponsoring this dinner.  Some key takeaways: - institutional adoption is real and happening although in a less flashy way. Driven by the business not the innovation or marketing teams  - the future of onchain finance is also growing very quickly. Institutional players increasingly familiar not only with RWAs and lending protocols but also vaults and curators  - lots of trading opportunities emerging in the trading and arbitraging between crypto, tokenised  assets and tradfi instruments and this is another reason behind the entry of institutional players.  -some uncertainty remains as to what will happen after midterms especially that crypto has become politicized. But will be impossible to put the genie back in the bottle.  Looking forward to the next dinner in London next month!

I asked Formula 1 World Champion Lando Norris what advice he had for the crypto community, which is going through one of its worst bear markets. His answer: stay focused and be patient. Lando waited 20 years to become world champion, including many years when McLaren was a midfield team. However, he remained focused, worked hard, and never lost sight of the ultimate goal. Insightful panel with @LandoNorris, @Haider Raffique, and @raj_dhamodharan at @token2049 in Singapore last week. Fun fact about Lando: when he isn't busy with Formula 1, he is an avid golfer and padel player. The video of our panel will be shared soon on my YouTube page. Make sure to subscribe so you don't miss it:

Another roller coaster week in crypto. Major milestones but some setbacks including a sophisticated supply chain attach on Ledger devices. I share the latest in my newsletter this week. Sponsored by @maplefinance

How AI and Stablecoins Are Transforming Risk Management. With Kevin Carr, Chief Risk and Compliance Officer at @raincards, explains where card networks like Visa and Mastercard meet stablecoin settlement, how Rain manages risk on-chain, and how it handles diverging global regulations and AI in compliance without losing human oversight. In this episode, we discuss: - How does Rain connect card networks like Visa and Mastercard with stablecoin settlement, and what does that give cardholders? - What can you see in a customer's on-chain data that you can't in traditional fiat, and where does that get harder to analyze? - How does Rain keep one global compliance standard while adapting to different rules in each country? - How is the compliance job changing as it starts to demand crypto data skills? - Where does AI help most in investigations, and why do you still need a human in the loop? The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

Why MoneyGram Launched Its Own Stablecoin MGUSD. My interview with @_therealjosh of @MoneyGram. The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

How Crypto Holders Can Protect Their Crypto in Case of Kidnappings? My interview with @tokarev_d , Founder of @bronwallet The full interview is available on my YouTube and podcast platforms. YouTube: Apple: Spotify: Learn more about Bron: