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Dr. Eva Hüpkes
Secretary General
International Association of Deposit Insurers
View LinkedIn profileEva Hüpkes took up her position as Secretary General of the International Association of Deposit Insurers in August 2023. Prior to joining IADI, she was Head of Regulatory and Supervisory Policies at the Financial Stability Board (FSB). From 1999 to 2009, she held positions at the Swiss Financial Market Supervisory Authority (FINMA) and its predecessor the Swiss Federal Banking Commission. From 1997 to 1999 she worked at the International Monetary Fund. Dr Hüpkes is a member of the New York Bar and studied law and international relations at the University of Passau, the University of Geneva, the Geneva Graduate Institute, Georgetown University, and the University of Bern, where she obtained her doctorate in law. She is a member of the International Monetary Law Committee of the International Law Association and a lecturer in international financial regulation at the University of Zurich.
Speaking at SFF 2026
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2:45–3:15pmWed 18 NovPolicy StageHall 3, Singapore EXPOOpen
Policy Rewiring
Can Regulation Be Written Into Money Itself? The Case for Rules in the Rails, Tokenized Deposits & Conditional Money
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Dr. Eva HüpkesSecretary GeneralInternational Association of Deposit Insurers
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Kazuki UedaDirector, Head of Fintech GroupBank of Japan
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Vira PlatonovaGlobal Head of Visa DirectVisaModerator
About this session
Tokenised deposits and conditional money take the programmability idea one layer deeper. They pilot whether settlement, eligibility and compliance can be embedded directly in the money rather than enforced around it. That raises a regulatory question few frameworks have caught up with: who is liable when the rule embedded in the transaction, not a human decision, turns out to be wrong. This discussion examines how the embedded-rules approach works in practice, and what it removes from the compliance function. It also looks at what new failure modes this introduces once the rule is baked into the transfer rather than checked afterwards. Attendees leave with a clearer view of where this model is genuinely ready, and where regulators are still working out how to hold it accountable. One key question the discussion will dive into: if compliance is embedded in the money itself, who is accountable when the embedded rule is wrong?
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