ABU DHABI, 10th December, 2025 (WAM) -- Michael Piwowar, Executive Vice President of the Milken Institute, said the BRIDGE Summit 2025 is driving essential global dialogue on digital assets, regulation and the future of cross-border payments, adding that "It is a fantastic platform, not only for the public sessions and getting to talk to people, but also for the private sessions."
In an interview with the Emirates News Agency (WAM) on the sidelines of the BRIDGE Summit at the ADNEC Centre in Abu Dhabi, Piwowar, a former Commissioner and Acting Chairman of the US Securities and Exchange Commission (SEC), added that they have had “some incredible round tables, where you get current regulators, former regulators like myself, market participants and media folks in a room, and we have very fruitful discussions."
He noted that one private session was so productive that a participant proposed forming an ongoing group chat. “I view the conversations we have here at the BRIDGE Summit as not the end, but the beginning of much larger discussions," he said.
He explained that global financial regulators have a long history of cooperation in traditional banking and capital markets, and the same opportunity now exists in digital asset markets.
Piwowar said continued cross-border dialogue is essential. “It is very important for investor protection that regulators remain in contact on enforcement and protections, to make sure we have valid safeguards in place," he said.
He stressed that investor protection is central to US regulation. “At the Securities and Exchange Commission, where I was the markets regulator, the mission has three parts. The first is investor protection, the second is ensuring markets are efficient, and the third is capital formation," he said. “The key is to keep everything in balance. If you go too far on capital formation and neglect investor protection, you get scandals. If you go too far on investor protection, you stifle innovation."
Piwowar encouraged private-sector participants to engage directly with regulators. “What I found most fruitful was going out and talking to people in the markets, because they are the first ones developing new ideas," he said, adding that many jurisdictions, including the United States, “are becoming more friendly towards crypto, digital assets and blockchain," and regulators “want to learn from market participants."
He said digital assets are returning to their origins. “The original ‘Big Bang’ in digital assets, the Satoshi white paper on Bitcoin 17 years ago, was all about payments," he stated. “People have talked about store of value, investment opportunities and Web3 technologies, but now it is coming back to payments."
Piwowar, who is also a former Senior Economist at the White House Council of Economic Advisers, sees significant opportunity in cross-border payments. “Whether countries develop central bank digital currencies, or whether they rely on private market solutions like stablecoins, there is a chance to find more efficient and cost-effective ways to move money globally," he said.
He highlighted remittances as a critical use case. “In some emerging markets, remittances from diaspora communities actually dwarf foreign direct investment," he said. “It is particularly important for emerging and developing markets to have more efficient payment systems so capital can flow back into those economies."