The goal of the Digital Pound Foundation’s Policy, Legal and Regulatory Working Group is to identify, define and articulate key risks, challenges and benefits arising from the introduction of new forms of digital money, including central bank digital currencies (CBDC), stablecoins, and e-money tokens, and to communicate these effectively to policymakers, regulators, financial markets participants, consumer and industry groups and other participants and stakeholders in the emerging ecosystem of new forms of digital money. It provides a forum where our members can communicate, collaborate and share ideas and practical solutions – from a policy, legal and regulatory perspective – towards a healthy and diverse ecosystem for new forms of digital money, whilst showcasing their skills and abilities within the sector.
Leading our Policy, Legal, and Regulatory Working Group are Diego Ballon Ossio, Senior Associate at Clifford Chance, and Chris Glennie, partner in the Financial Services Regulatory Practice at CMS London. Diego specialises in advising financial institutions and other market participants on financial market regulation and activities related to benchmarks, financial services trading and conduct requirements as well as payment services and fintech. Meanwhile, Chris has significant payments, fintech and financial regulation expertise. He has a unique background and insight having joined CMS from the Bank of England where he was working on a number of high profile projects such as the renewal of the Bank’s Real Time Gross Settlement System (RTGS), the broadening of access to RTGS and the payments systems which settle over it to non-bank payment service providers or central bank digital currency (CBDC) / stablecoin workstreams.
All Digital Pound Foundation members have the opportunity to get involved in the creation of educational materials, thought leadership and resources, as well as an engaging programme of communications, publications and events, that will not only support the wider understanding of new forms of digital money, but help to showcase their knowledge and expertise. If your organisation would like to get involved with the Policy, Legal and Regulatory Working Group, or any of our other working groups, we would love to hear from you.
Well-designed regulation can have a powerful effect on driving growth and shaping a thriving digital economy and society, whereas poorly-designed or restrictive regulation can dampen innovation. Nowhere is this more important than digital technologies, where it is crucial for the government to deploy regulation in ways that enable the potential benefits of new innovations, and provide certainty to businesses and investors alike. The right rules can help people trust the products and services they’re using, which in turn can drive take-up and further consumption, investment and innovation.