Basel Institute on Governance 174d ago

This panel at the 11th Conference of the States Parties to the UN Convention Against Corruption in Doha, Qatar, examined the rapidly evolving virtual assets landscape and its implications for financial integrity, innovation and cross-border cooperation. Panellists discussed how features such as speed, decentralisation and reduced intermediaries can drive efficiency, financial inclusion and business growth, while also creating new vulnerabilities for money laundering, corruption and other financial crimes if left insufficiently regulated. The discussion focused on finding the right balance between innovation and integrity, highlighting how regulators and supervisors are adapting their frameworks to address risks linked to virtual and tokenised assets without stifling innovation. Case studies from different regions illustrated how national risk assessments, proportionate regulation and supervisory tools - including blockchain analytics - can support effective oversight. The role of the private sector, particularly virtual asset service providers, was emphasised as critical in advancing responsible innovation through robust compliance, transparency and collaboration with authorities. The panel featured Maha Al-Saadi (Qatar Financial Centre), Tamar Latsabidze (National Bank of Georgia), Bogdan Vacusta (National Bank of Romania), Robert MacDonald (Bybit) and Gabriel Hugonnot (European Commission, DG FISMA). It reaffirmed the importance of multi-stakeholder dialogue in shaping balanced global virtual asset regulation. The event was co-organised by the Basel Institute on Governance, OSCE and UNODC. More information: https://baselgovernance.org/node/2885