Abu dhabi: Michael Piwowar, Executive Vice President of the Milken Institute, emphasized the importance of the BRIDGE Summit 2025 in fostering global discussions on digital assets, regulation, and the future of cross-border payments. He described the summit as a vital platform that facilitates both public and private sessions, allowing stakeholders to engage in meaningful conversations.
According to Emirates News Agency, Piwowar, who is a former Commissioner and Acting Chairman of the US Securities and Exchange Commission (SEC), shared insights in an interview during the BRIDGE Summit at the ADNEC Centre in Abu Dhabi. He highlighted the value of roundtable discussions that bring together current and former regulators, market participants, and media representatives for productive dialogue.
Piwowar mentioned that one particular private session led to the suggestion of creating an ongoing group chat among participants. He views the discussions at the summit as a starting point for broader conversations, noting that global financial regulators have a history of cooperation in traditional markets, a practice that can be extended to digital asset markets.
He stressed the importance of continuous cross-border dialogue for investor protection. Piwowar explained that maintaining communication on enforcement and protections is crucial to ensure valid safeguards. He reiterated that investor protection is a fundamental aspect of US regulation, which also aims to ensure market efficiency and capital formation.
Encouraging private-sector engagement with regulators, Piwowar highlighted the benefits of direct interactions with market participants, who are often at the forefront of innovation. He noted that jurisdictions, including the United States, are becoming more receptive to crypto, digital assets, and blockchain, and regulators are keen to learn from market experiences.
Discussing the evolution of digital assets, Piwowar remarked that the focus is returning to payments, echoing the original intent of the Bitcoin white paper. He sees great potential in cross-border payments, whether through central bank digital currencies or private solutions like stablecoins, to enhance global money transfer efficiency.
Piwowar identified remittances as a key area of impact, particularly for emerging markets where they surpass foreign direct investment. He underscored the importance of developing efficient payment systems to facilitate capital flow into these economies.