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November 15, 2016, 05:40:58 PM |
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The day US Securities and Exchange Commission (SEC) chair Mary Jo White announced she would hand over power prior to President Trump's inauguration, an SEC panel on blockchain began to paint a picture of just how deep the changes could go.
Beyond Trump's planned reversal of regulatory requirements imposed in the aftermath of the 2008 financial crisis, the panel, moderated by the head of the SEC's blockchain working group, looked closely at how blockchain tech is changing the demands imposed on regulators themselves.
To face an increasingly complicated field of potential problems, financial regulators will need to embrace a new set of skills. Already, the name of a a typical financial regulator is usually followed by a string of letters like CFA, MBA, JD and LL.B.
But based on the discussion yesterday at its headquarters in Washington, DC, the qualifications are only going to get more diverse.
Speaking on a panel about the impact of distributed ledgers on post-trade solutions, professor Emin Gün Sirer of Cornell University explained how technological changes are already resulting in the rise of "a new class" of government employee who will take financial technology to a new level.
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