"I am excited and proud to be working alongside such a forward-thinking leadership team, as I help lead Prospect 33 into the crypto regulatory space. It is this sort of forethought and creative thinking that sets us apart from our peers in the industry."
NEW YORK, NY – 4 May 2022 – Prospect 33, a leading consulting firm in the Financial Services sector covering Digital Transformation, Data & Data Science, Change Management, and Risk & Regulation, has launched a new Crypto Regulatory practice area to tackle the increasing global need for regulation of crypto assets. The practice area will be led by Hylan Elias Kornfeld, Director of Data Strategy.
Prospect 33 has been providing strategic advisory services and execution capabilities to Financial Institutions in realizing their Digital Business Model ambitions since 2005. The company’s investment in a new crypto practice area will now enable clients to evolve their business practices through data-driven operating models, ML, and AI in the emerging crypto market.
Regulators worldwide have been discussing the topic of crypto regulation in increasing quantities over recent months. In the week of April 4 alone, the U.S. government forfeited $34 million in crypto assets tied to Dark Web activity, Securities Exchange Commission chairman Gary Gensler announced a partnership focused on crypto regulation with the Commodity Futures Trading Commission at Penn Law Capital Markets Associations’ annual conference, and U.S. Treasury Secretary Janet Yellen delivered remarks at American University’s Kogod School of Business Center for Innovation stating more government regulation is needed to police the crypto market and to dissuade fraud and illicit activities.
"Prospect 33’s track record of driving digital innovation in financial markets combined with the urgent need for regulation in the wake of some of the largest crypto forfeitures and frauds in history, uniquely positions us to help our clients elevate their business practices and drive decision making in this evolving space."