DAS 2021: BNY Mellon’s Iskandar says Regulation Builds Trust

Greater regulatory oversight of digital assets will help to advance the asset class, experts insist.

article-image

Source: Shutterstock

share
  • Regulation can bring clarity and security to the industry, especially for newcomers who have concerns
  • Regulated financial institutions tend to consider regulatory concerns prior to product launch, which can slow the process but will exchange client trust

Digital Asset Summit 2021, New York City — Banks and regulated financial institutions may be slower to bring products to market due to their regulatory requirements, but it helps to bolster client trust, Ziad Iskandar, senior lead, advanced solutions and digital assets unit at BNY Mellon, said during a panel at the Digital Asset Summit Tuesday. 

“Because we are regulated, that doesn’t always make life so easy, and it does influence product design,” said Iskandar. “We have continuous discussions about safety and soundness of what we are doing and if you are a client, those are questions you want answered.” 

Taking a conservative regulatory approach may not be the fastest way to give clients exposure to cryptocurrencies, but it is never time wasted, Iskandar said. 

In terms of bringing sound products to market, regulated institutions are more familiar with the process and framework, Ben Reynolds, chief strategy officer at Silvergate Bank, said during the panel. 

DAS panelThe Future of Financial Services and Digital Assets Panel at Digital Asset Summit 2021.

“When you are a regulated institution, there is a clear path for launching products and defined standards that need to be met and maintained,” He said.

When it comes to new projects and protocols, these players often do not have the same considerations in mind. Project launch comes before regulatory considerations, Reynolds said. 

The panelists agreed that regulatory clarity in the space will help to advance the digital asset industry and give investors a greater sense of security. 

“There is money on the sidelines that’s waiting for the space to be more regulated,” said Reynolds. “​​As regulation comes in and as some of these questions start to get figured out, I think that more capital will come into the space, and a rising tide lifts all boats.”

Are you a UK or EU reader that can’t get enough investor-focused content on digital assets?Join us in London on November 15th and 16th for the Digital Asset Summit (DAS) London. Use code ARTICLE for £75 off your ticket. Buy it now.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (11).png

Research

Union’s technical design brings measured improvements to crosschain interoperability. By combining a consensus-verified hub with novel constructs like state lenses and ZK proofs for client updates, Union achieves an interoperability protocol that is highly performant, trust-minimized, and scalable.

article-image

Camp is looking to onboard licensors and creators to monetize their content for AI agents

article-image

The US regulator will use Nasdaq’s system to detect manipulation across derivatives and prediction markets

by Blockworks /
article-image

SOL and HYPE have rebounded, dYdX course corrects (again)

article-image

Over 100 crypto firms and advocates urge Congress to shield open-source builders and non-custodial providers

by Blockworks /
article-image

The probabilities app is finding mainstream success

article-image

A stock by any other name — even “token” — is still a security