The Asia-Pacific is fast becoming a leading hub of crypto and virtual digital asset (VDA) activity, including new exchanges, startups, digital payment systems, and crypto futures trading. This spectacular growth, however, is happening amid a tidal wave of rigorous new securities law regulation, and tax transparency rules (now being adopted by countries in reaction to the OECD’s Crypto Asset Reporting Framework (CARF) and amendments to its Common Reporting Standard). Ironically, while decentralized ledger technology (DLT) was supposed to eliminate the need for trust and regulation, the calls for more oversight, reporting rules, and transparency have only increased—especially in wake of the latest crypto crash of 2022 and some exchange bankruptcies. The panel will consider how a variety of international crypto developments are impacting Asia-Pacific VDA deals, and what the new and forthcoming rules will mean for crypto traders and investors, VDA brokers, funds, taxpayers, and their advisors.
This panel was presented at the Fall 2023 Asia/Pacific Conference on “Law and Technology in a Changing World” in Seoul, South Korea.
