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Summary

In the rapidly evolving landscape of digital assets, recent developments have accelerated the mainstream adoption and integration of cryptocurrencies, non-fungible tokens (NFTs), decentralized finance (DeFi), and central bank digital currencies (CBDCs). The surge in institutional interest, regulatory advances, and technological innovations have propelled these digital assets into the spotlight, reshaping traditional financial systems and paving the way for a more inclusive and decentralized future. As governments, regulators, financial institutions, and technology pioneers continue to explore the vast potential and grapple with the challenges of blockchain technology and digital assets, the global conversation around their impact on economies, industries, and societal structures grows increasingly dynamic and complex.

The knowledge and practical skills of policymakers will be crucial in capitalizing on the potential of digital assets, and mitigating their risks. To support financial regulators and government officials from across Asia and the Pacific in this process, the Asian Development Bank Institute (ADBI), in collaboration with Cambridge University’s Cambridge Centre for Alternative Finance (CCAF) and Cambridge Judge Business School Executive Education Limited (JBSEEL), is offering a nine-week Online Course on Digital Assets for Regulators.

The program is designed to explore the digital assets ecosystem, begin to unpack the potential of distributed ledger and blockchain technology, and analyze their transformative effects on the central bank monetary system and beyond. The program is marked by an active learning model, enabling participants to work through case studies, access materials, and discuss key concepts and practical experiences, both in asynchronous forums and live online sessions.

The course will equip regulators with new insights to build and apply their understanding of digital assets, facilitate dialogue and diffuse learning opportunities about the risks and opportunities presented by the growing digital asset ecosystem, and examine the merits and drawbacks of various regulatory options. The ADBI invites applications from government policymakers, regulators, and financial authority officials from developing member countries of the ADB. 

About the collaboration: The ADBI and CCAF have a longstanding partnership in delivering CBT programs at the intersection between finance, regulation, and technology, bringing together 12 cohorts, including 175 ADBI-sponsored participants from over 32 Asian Pacific countries.

Objectives

Participants who complete the course will:

• Building understanding and awareness: on the drivers and dynamics of digital assets, and their implications for regulators, markets, and societies at large.
• Develop technical expertise and gain practical, up-to-date skills in an emerging area: by producing a capstone project with impacts on their institution, to explore the application of digital assets in context.
• Access to and exchanges with an emerging community of practice: by gaining access to the global Regulator Knowledge Exchange community platform, and engaging with other participants and leading experts throughout the programme.
• Learn practical policy tools: to support digital assets innovation while ensuring protection of citizens, through conducive regulatory frameworks, policy approaches, fiscal incentives, and technological insights.

Target Participants

The course participants will consist of up to 35 government policymakers, regulators, and financial authority officials from developing member countries (DMCs) of the Asian Development Bank (ADB). The selection criteria focus on government officials drawn from national ministries of finance, financial authorities, central bankers, and macro-economic regulators.

Partners

• Cambridge Centre for Alternative Finance (CCAF)
• Cambridge Judge Business School Executive Education Limited (JBSEEL)