BGIN Block 14: Agenda for FASE WG Sessions

Working Group(s) Financial Applications & Social Economics (FASE)
1

Dear Co-Chairs and Members of the FASE Working Group,

Dr. Matsuo has asked the WG Co-Chairs to provide input on the Block 14 program.
BGIN Block 14 - Request to WG Co-chairs - BGIN Admin / BGIN Steering Committee - Blockchain Governance Initiative Network

In that note, the following items are listed as the FASE Working Group’s current projects for Block 14:

  1. Illicit Activities

  2. Establishing technical metrics to evaluate the decentralization of blockchain networks

  3. Practical Stablecoin Implementation Guide

  4. Harmonization among crypto-assets, stablecoins, and tokenized deposits

For items 1 and 2, based on the outcomes of our Block 13 discussions, I propose the following approach.

1. Harmful / Illicit Activities

  • Invite Solidus Labs and the JVCEA (the self-regulatory organization, or SRO) as speakers, using Japan as a case study to highlight key challenges and possible directions for market surveillance.

  • As background: in Japan, alongside the submission of a new crypto-asset bill this year, the JVCEA is expected to significantly strengthen its market surveillance framework. One option would be to ask the FSA, which is drafting the bill, to provide context as well.

2. Decentralization

  • Deepen the discussion on how the US, the EU, Japan, and other jurisdictions classify crypto-assets, and the issues that follow from those approaches. In particular, identify challenges and potential solutions (and how BGIN could contribute to that) when decentralization is used as a classification criterion, taking technical aspects into account.

  • Invite experts on relevant regulatory frameworks (e.g., lawyers) from the US (and/or Europe) and Japan to explain key differences across jurisdictions.

  • In addition, Japan’s upcoming legislative revisions are expected to assume a framework in which exchanges assess centralization, and the SRO reviews that assessment. As a case study, we could ask the JVCEA to share the practical challenges it anticipates.

I plan to proceed with arrangements along these lines, but please let me know if you have any comments. In particular, for item 2, I would appreciate recommendations for potential speakers who can speak to regulatory regimes and market practice in the US, the EU and other jurisdictions.

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