International
23:06 24 September 2020
Post by: WBJ

EC proposes introducing new cryptocurrency regulations in EU

EC  proposes introducing new cryptocurrency regulations in EU
Source: Pxfuel

The European Commission on Thursday proposed introducing crypto-assets laws in the EU for the first time. This is to stimulate innovation in this sector while maintaining financial stability and protecting investors from risk.

The Crypto Markets Regulation (MiCA) aims to provide clarity and legal certainty to their issuers and providers. The new rules will allow operators authorized in one Member State to provide services throughout the EU.

Safeguards include capital requirements, holding of assets, a mandatory complaint procedure available to investors and the investor's rights against the issuer. Issuers of significant asset-backed cryptocurrencies (so-called stable cryptocurrencies) would be subject to more stringent requirements (e.g. capital, investor rights and supervision).

The Commission has also proposed a pilot scheme for market infrastructures that wish to try to negotiate and transact financial instruments in the form of crypto assets. This system is a kind of testing ground that allows for a temporary departure from existing regulations so that regulators can gain experience with using distributed ledger technology in market infrastructures while being able to cope with risks related to investor protection, market integrity and financial stability. 

(PAP) https://stooq.pl/n/?f=1376583&c=0&p=4


eu
ec
cryptocurrencies
mica

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