Alisa DiCaprio, Chief Economist at R3, explores how regulatory sandboxes and networks can drive the growth of institutional DeFi and tokenization
The primary missing piece in DeFi is what it’s sought to avoid: regulation. But over the past 12 months, the UK and EU have made several significant steps towards creating an innovative and enduring digital economy by building out the digital assets regulatory regime.
In March, the European Union launched its DLT pilot regime, and in June the UK passed the Financial Services and Markets Act (FSMA), creating a Financial Market Infrastructure (FMI) sandbox. More recently, in October, the Financial Conduct Authority in the UK introduced plans for a fund tokenization blueprint that was released later.
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