Technologie

A year of negative crypto-asset industry headlines has left interest in the asset class undiminished, according to a survey of 127 industry practitioners released on Thursday. Respondents agreed crypto assets will be important for the future of Luxembourg’s asset management industry.  Local crypto actors attribute crypto-asset failures elsewhere to poor governance and due diligence failures but, all the same, are happy to see increased regulatory activity in this area. 

Luxembourg’s banking sector is asking data protection and financial services authorities to provide more clarity on the use of generative AI tools like ChatGPT. Presenting its survey on the use of ChatGPT, bank sector group ABBL on Thursday said 38 per cent of bank employees are currently blocked from using such tools, which is significantly more than the average of 24 percent for the sector as a whole.

Luxembourg-based fund administrator Alter Domus said on Thursday that it has  acquired the Solvas suite of business IT solutions from Deloitte Touche LLP, a subsidiary of Deloitte LLP, for an undisclosed amount.

Although usage of artificial intelligence in the Luxembourg financial sector is currently fairly limited and still at an early stage, the grand duchy is set for wider adoption of artificial intelligence in the near future, according to a survey carried out by BCL, the central bank, and financial supervisor CSSF.

Luxembourg is leading the way in Europe when it comes to crypto and blockchain technology. With MiCA, a new set of regulations from the European Parliament, Luxembourg’s early bet on cryptocurrency has been validated! We with Nasir Zubairi, CEO of The LHoFT - Luxembourg House of Financial Technology who sees this as an opportunity for cryptocurrencies and crypto assets to enter mainstream markets within EU countries, and heard from banking assocation ABBL.

For Luxembourg’s crypto community, Thursday’s adoption of the MiCA regulation in the European Parliament reassures established financial players and offers an EU passportable licensing regime with no need for national transposition in member states. «It enables new ways of issuance and distribution of new types of assets,» said ABBL.

Europe’s long-awaited Markets in Crypto-Assets regulation is finally coming up for a vote this coming Thursday at the European Parliament’s meeting in Strasbourg. Players in the crypto industry around the world and in Luxembourg, from cryptocurrency to NFT providers are closely parsing the text that will be voted on. 

This Luxembourg edition of IO Talks hears about the latest developments in the realm of blockchain technology in the asset management and investment industry. 

The data science revolution is sweeping the investment industry. Some firms are looking to create an in-house solution combining artificial intelligence, machine learning and data science. Picking the right data set, and separating the wheat from the chaff, is critical. 

The first day of the 2023 ALFI European Asset Management Conference heard from the head of the European Securities and Markets Authority, Verena Ross, and included panels on the impact of blockchain and digital assets, as well as corporate taxation.