The future of the digital asset market is no longer determined solely by technology, but primarily by the trust it can inspire in investors, financial institutions and regulators. The implementation of the European MiCA regulation creates a common regulatory framework, but the real challenge concerns consistency in its implementation, corporate governance and effective risk management.
These issues were analysed in the panel 'Can Digital Assets Become a Trusted Part of the Regulated Financial System?,' which took place as part of the Digital Assets and the Future of Finance Summit 2026, presented by ECOMMBX.
The discussion was moderated by Gregory Dellas, Group Chief Compliance & Risk Officer, ECOMMBX, Honorary Chair, ACAMS Cyprus Chapter, who noted that the market has left behind the question of whether digital assets are here to stay. As he noted, the real challenge now is whether they can become a reliable and fully integrated part of the regulated financial system, through effective supervision, strong corporate governance, proper risk management and transparency.
The discussion where the above was discussed was attended by George Apostolides, Deputy CCO/AMLCO Eurobank Ltd.; Kyriaki Dimitriou, Head of Fincrime Compliance, Revolut Digital Assets Europe Ltd.; Alexis Michael, Executive Director for Cyprus, Malta and Greece, Copla; and Faisal Islam, President, Binderr Core.
George Apostolides noted that the attitude of banks towards digital assets has changed significantly in recent years, especially after the implementation of MiCA and the relevant guidelines of the Central Bank of Cyprus. He explained that cooperation with digital asset service providers now requires strong governance and control systems, so that both the banks themselves and the foreign correspondent banks have the necessary confidence to manage the relevant activities.
For his part, Alexis Michael argued that the MiCA regulation has fundamentally changed the level of discussion, as there is now a common point of reference for the entire market. As he stated, the operating license is only the first step, since the real challenge lies in the continuous demonstration that an organisation implements in practice the procedures, controls and policies required by the regulatory framework.
Kyriaki Dimitriou underlined that compliance and legality are necessary conditions, but not sufficient in themselves to create trust. At the same time, she pointed out that one of the biggest constraints of the market remains the lack of adequate digital literacy both in supervisory authorities and financial institutions and compliance professionals. As she explained, a substantial understanding of the risks is a prerequisite for the proper assessment and supervision of new technologies.
Faisal Islam focused on the role of technology in compliance, noting that the most efficient processes are not necessarily the most time-consuming. On the contrary, as he said, organisations that have in-depth knowledge of their products, their customers and the market requirements manage to combine speed and efficiency, utilising modern RegTech solutions. According to him, properly designed compliance is a competitive advantage and can significantly accelerate the processes of serving and integrating new customers.
A common finding among all participants was that MiCA has laid the foundations for a more mature and regulated market. However, the long-term success of the ecosystem will depend on the consistency in the application of rules, the quality of corporate governance and the ability of organisations to maintain market trust on a daily basis.
(Source: InBusinessNews)
