ECB officials will get ready for crypto growth

As crypto grown so fast,

Many countries started to prepare anything related to the digital assets

Regulators from 19 EU member states will attend a supervisory board meeting this month

The aims of the meeting is to discuss MiCA and its possible implementation.

The European Central Bank, or ECB will preparing to implement a new law

They will give a warn for European Union member

About the necessity of harmonizing regulations for crypto.

According to a Sunday report from the Financial Times reported by Cointelegraph,

The ECB concerned about possible regulatory overlap

Between respective central banks in the EU and crypto companies

That is as the officials prepare to implement the Markets in Crypto-Assets, or MiCA, framework.

The European Parliament, European Commission, and European Council reached an agreement last month

They will to bring crypto issuers and service providers

Within their jurisdictional control under a single regulatory framework.

Then, once implemented, the law will require asset service providers to adhere to certain requirements

Aimed to protecting investors

As well as warn clients about the potential risk of investing in a volatile crypto market.

EU officials will also have an 18-months review period

That’s all to assess the proposed regulatory framework

And determine whether it includes other crypto-related products like nonfungible tokens or NFTs.