Posts published by: Maud
Set against the stunning backdrop of the Madinat Jumeirah in Dubai, TOKEN2049 delivered more than just a conference—this felt like a landmark moment for Web3. As regulation, decentralization, and institutional adoption collide, TOKEN2049 offered a rare space where meaningful progress didn’t just feel possible—it felt inevitable.
Wachsman CEO and Founder David Wachsman led two dynamic panels, steering conversations around some of the most urgent and impactful topics shaping the digital asset industry. Here’s what you need to know:
TL;DR: From Regulation to Integration: Jurisdictions Leading the Way Forward
In conversation with Matthew White, CEO of Dubai Virtual Assets Regulatory Authority (VARA), Eric Yip, Executive Director at the Securities & Futures Commission of Hong Kong, and Teresa Goody Guillén, Partner at BakerHostetler, three major themes emerged;
- Activity-Based, Tech-Agnostic Regulation
Regulators like Dubai’s VARA are shifting toward frameworks that focus on what a project does—exchanges, custody, brokerage—rather than what it builds (specific tokens or technologies). This model supports innovation while managing risk. - Global Harmonization and Cross-Border Collaboration
Inconsistent terminology and fragmented policies across jurisdictions are major challenges. Speakers emphasized the urgent need for international cooperation and shared regulatory standards to prevent arbitrage and support industry growth. - Bridging Traditional Finance and Web3
As regulators from traditional finance step into the crypto space, there’s a growing understanding that Web3 operates differently—and needs different oversight. Frameworks must evolve to reflect decentralization, private market dynamics, and the speed of innovation.
Matthew White spoke to the shift from reactionary enforcement to proactive, thoughtful frameworks, highlighting Dubai’s forward-thinking approach, which uses activity-based regulation to manage risk across exchanges, brokers, custodians, and more—without getting bogged down in token classifications. Inspired by models in the U.S., Switzerland, and Hong Kong, VARA’s framework is tech-agnostic and innovation-friendly.
Marking his first year at the SFC, Eric Yip shared his transition from TradFi to crypto oversight, noting the private market dynamics of Web3 require new ways of thinking. He stressed the need to understand crypto’s private-market dynamics, which differ fundamentally from traditional public markets.
David Wachsman emphasized the uneven landscape of regulatory maturity globally, prompting a discussion on the need for shared understanding, while Teresa Goody Guillén added that inconsistent taxonomies—terms like “digital asset,” “virtual asset,” “token,” and “coin”—create confusion across jurisdictions.
Enforcement was another major area of discussion. Teresa addressed the use of enforcement discretion by current regulators to bring order to the space, in contrast to more adversarial tactics used in the past. The goal, she emphasized, is to support innovation while ensuring compliance.
All speakers agreed: collaboration between regulators and industry is essential. From banking access to investor protection, progress depends on open dialogue, global harmonization, and tech-informed policymaking.
As regulation becomes part of the foundation for Web3’s next phase, TOKEN2049 Dubai underscored a clear message: thoughtful, globally aligned rules will be key to scaling trust and unlocking long-term growth.
As the crypto sector matures, the stakes are higher—but so are the opportunities for purposeful, well-structured innovation.