Now that stakeholders in the financial services industry have two choices for identification standards in the digital asset market, they have a question to contend with: Does the industry really need more than one standard?

Nelson Mullins Riley & Scarborough LLP partner and chair of the FinTech and Regulation Practice Richard Levin spoke with FinOps Report on the matter. “So far, the standards for identification codes for traditional financial instruments, such as securities, are being applied to digital assets which are not a perfect fit in all instances,” he said. The two identification codes are FIGIs issued by cryptodata giant Kaiko and ISO-endorsed codes issued by Etrading Software.

As one of the first lawyers to focus on the regulation of blockchain and digital assets, Levin is considered a thought leader in the FinTech space.