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.
- More about crypto: Rumors KuCoin Bankrupt, CEO Gives A Statement