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Regulatory Roundtable Insights: What Crypto Firms Should Know

Global Ledger shares key insights from VARA and DFSA roundtables on tokenization, cyber threats, and how crypto firms can strengthen compliance.

Regulators and crypto firms face growing pressure to keep pace with a fast-moving digital asset landscape. Security and resilience are more important than ever.

In recent months, Global Ledger joined two key regulatory roundtables — one hosted by VARA (Virtual Assets Regulatory Authority) in Dubai and another by the DFSA (Dubai Financial Services Authority). 

Both events brought together regulators, industry leaders, and innovators to tackle issues like tokenisation, compliance, and cyber risk.

Vara roundtable: tokenization needs real-world interoperability

The VARA roundtable, co-organised with Global Digital Finance (GDF), focused on the rapidly developing landscape of real-world asset (RWA) tokenization.

Yulia Murat, Head of Regulatory Affairs at Global Ledger, joined a lineup of participants from the regulatory landscape to discuss how tokenisation can scale securely and effectively.

Key insights:

  • Risk-controlled growth: The roundtable emphasised a regulatory approach that balances innovation with the ecosystem’s responsibility to solve interoperability and retail liquidity challenges.
  • TradFi–DeFi connectivity: Participants highlighted the importance of true interoperability between traditional finance and DeFi as essential for “practical” tokenization.
  • Always-on liquidity: Ensuring 24/7 liquidity was seen as a key foundation for enabling natively digital assets.
  • Enforceability and identity: The need for robust digital identity infrastructure was stressed to ensure effective Know Your Customer (KYC) and compliance enforcement across jurisdictions.

VARA roundtable highlight: Tokenization won’t reach its potential without aligned infrastructure, interoperability, and risk controls — all areas where smart RegTech can play a critical role.

VARA roundtable
VARA roundtable

DFSA roundtable: building cyber resilience post-incident

At the DFSA roundtable, hosted by DIFC Innovation Hub and Global Digital Finance (GDF), the discussion turned to cyber threats, major incident response, and how the industry can rebound stronger.

Representing Global Ledger, Lex Fisun (CEO & Co-founder) and Yulia Murat (Head of Regulatory Affairs) joined regulators and industry leaders to explore practical ways to improve real-time threat detection and build cross-sector resilience.

The discussion was sparked by the $1.5 billion ByBit hack — one of the largest in crypto history. The case underscored the urgent need for smarter, faster, and more coordinated responses to evolving threats.

Key insights:

  • Beyond static playbooks: Firms must implement AI-powered, behaviour-based transaction monitoring and adopt multi-layered zero-trust operational controls as preventive measures.
  • Cross-border laundering remains a blind spot: Unlicensed platforms, no-KYC exchanges, mixers, and bridges create clear risks. Sharing this knowledge across jurisdictions and strengthening “public-private cooperation” can help make it harder for illicit funds to move undetected.

  • DFSA’s intelligence sharing leads the way: The Threat Intelligence Platform was highlighted as a model for regulators seeking to share real-time threat insights across the ecosystem.

  • Post-incident incentives matter: ByBit’s bounty program was applauded for turning a breach into a “trust-building exercise”. As a community, we should also consider limiting rewards for those participating in such schemes post-event.

DFSA roundtable highlight: With much of the stolen funds still being laundered, crypto firms should use advanced tools to trace the origin of incoming assets and strengthen industry-wide resilience.

Final thoughts

From tokenisation frameworks to threat response protocols, one thing is clear: Effective regulation in digital assets now depends on continuous dialogue, collaborative infrastructure, and real-time compliance tools.

Global Ledger helps firms and regulators stay secure and compliant with easy-to-use tools. Our platform offers advanced blockchain visualisation and AML risk scoring for fast, accurate crypto monitoring. See how it works with the demo.

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