Beyond Bank Failures: Rethinking the Role of Traditional Banks in the Crypto Age

John Avery, VP Web3, FIS
Glenn Barber, Head of Sales Americas, Copper.co
Glenn Morgan, SVP, Digital Assets Practice Leader, Aon
Jim F. Vivenzio, Senior Counsel, Perkins Coie LLP, Former Director for BSA/AML Policy, Office of the Comptroller of the Currency
Moderator: Mike Castiglione, Director of Regulatory Affairs, Digital Assets, Eventus

Many believe that protecting institutional investment in digital assets is necessary for markets to flourish. From custody to trading, financing, staking, and governance – this panel discusses what it will take for more “TradFi’ institutions to enter this space and more importantly, how new entrants will impact the industry’s future.

0:00 - Introduction
0:20 - Panelists and Panel Introduction
0:48 - Mike Castiglione, Background and Introduction.
1:15 - The history of technology
1:40 - Where are we in Crypto Adoption?
2:03 - Institutional Adopters
3:27 - FDIC Report Findings
4:09 - Offices of Innovation
5:28 - Regulatory Shifts in Institutions
5:47 - The “Crypto Risk Statement”
7:00 - The “Crypto Liquidity Risk Statement”
7:50 - OFAC Sanctions
8;45 - Un-hosted Wallets Rule
8:00 - Guidance Promised
9:37 - Stay Tuned for Lots of Change!
10:05 - The Importance of Custody
10:25 - Technologies to Update Custody
10:53 - Grounded in physical security
11:40 - New Technologies for Virtual Security
12:17 - The Definition of Custody
12:53 - The Importance of Insurance
13:17 - How does insurance help investors take calculated risks
14:28 - Crypto Natives and Insurance
6:10 - Compliance Processes and Financial Institutions
16:34 - Challenges of developing relationships with banks
16:51 - A regulated environment
17:25 - Expectations when forming regulations
18:30 - The Bank Service Company Act
19:01 - Bankers to have a firm understanding of relationship complexities
20:30 - What’s now and what’s coming
21:13 - What practical things should businesses do?
21:43 - Building Next-Generation Rails
23:05 - Solving and Providing Complete Solutions
24:30 - Awareness, Influence, and Adoption
25:45 - Other Countries Setting Guardrails for Crypto
26:00 - British Regulation
26:38 - Switzerland FinTech License
27:28 - Abu Dhabi and Dubai Progress
27:57 - Hong Kong Legalizing ETFs
28:24 - A Clear Road Map
29:30 - Where will we be in a year from now?
30:36 - Compliance Costs
31:20 - Success Stories in Flight
32:12 - Blockchain Use Cases Utilized and Proven
33:05 - Thank you and closing remarks

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