REGULATORY RADAR BCB GROUP
→ its development, but there now needs to be a balance, if the market is to mature. “The truth remains that, for digital assets more broadly, the more it gets regulated, the more institutional customers will get involved. There are obviously huge benefits in being connected to traditional capital markets because of the liquidity that brings. “If you are an established institution, tasked with adopting crypto, and you are used to the rules and regulations in banking, it is hard to embrace some of the more innovative ideas in the current regulatory environment.” Despite this, Renew says that attitudes within traditional finance are changing fast, with the recent changes in regulation certainly stimulating more interest than previously witnessed. “Only the other day I spoke to an investor who previously wanted nothing to do with crypto two years ago, who now recognises that they need to be involved in some way. However, they are struggling to come to terms with
“Will companies still want to use it and therefore register elsewhere?” The battle for regulatory supremacy in stablecoins has been widely discussed on the conference circuit during the first half of 2025, but Barratt states that this hasn’t yet led to financial institutions explicitly resorting to regulatory arbitrage. “I wonder with stablecoins whether that will occur. For Corporate Treasury, I don’t know whether it would matter whether it is USDT or EUR,” she says. “They just want a robust way for safe payments globally. That is where Circle or SG Forge have a real opportunity. They can facilitate the global use case to send funds globally.”
Global appeal As banks and other traditional finance institutions increasingly explore the potential that exists in digital assets, BCB Group’s regulatory-first strategy has proven to hold broad appeal. At the same time, Barratt explains that the company is mindful of a need to maintain regulatory appeal for major financial institutions operating in all jurisdictions and, as such, it is keen to explore obtaining licences in new jurisdictions. BCB’s commitment to continuous regulatory expansion has led it to the United Arab Emirates where it has started exploring whether there could be value in securing an additional licence in Dubai. While a concrete decision on an application has yet to be agreed, the management team at BCB are very keen to hear from their clients as to whether holding an additional regulatory licence there may appeal. “Dubai is an opportunity for us,” Barratt explains. “We are meeting regulators in Dubai, both the Virtual Assets Regulatory Authority (VARA) and the Central Bank of the UAE (CBUAE). The research has been complex and our next steps will depend on where we decide to register and the customers that we serve. “We are looking at our target markets and, from that, we are determining where we want to be authorised. We want to explore
The truth remains that, for digital assets more broadly, the more it gets regulated, the more institutional customers will get involved. There are obviously huge benefits in being connected to traditional capital markets because of the liquidity that brings. Claire Barratt
how best to integrate. That’s where BCB Group can help.” The differing approaches to
stablecoin governance are just one example of where regulatory friction is starting to emerge. Between the US and Europe, in particular, companies are seeking how best to navigate the new rules. “We are still seeing interest in USDT so it will be interesting to see the effect of MiCA,” Barratt says.
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