The European Commission releases legislative package for crypto assets

Monday 28 September 2020 13:56 CET | News

In September 2020, the European Commission has published a legislative package for crypto assets in the EU. 

The new set of laws is part of a Digital Finance Strategy and it includes the Regulation on Markets in Crypto Assets and a Pilot Regime for Market Infrastructures based on DLT. The proposed regulations are a demonstration of the Commission’s intention to create regulatory clarity in a market that recently has been operating on best practices developed by the big players in the sector, or by a ‘best fit’ regulation based on related practices.

The package looks to address this in the form of a fully harmonised regime that will replace existing national frameworks and allow Crypto Asset Service Providers (CASPs) to provide their services across the Single Market. This EU legislation is likely to be exported as a global standard to many other jurisdictions seeking to adopt crypto regulations and this adds to its sense of global importance, according to Forbes.

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Keywords: European Commission, legislative, crypto assets, cryptoassets, digital finance strategy, Regulation on Markets in Crypto Assets, Pilot Regime for Market Infrastructures, DLT, regulations, best practices, national frameworks, CASPs, Crypto Asset Service Providers, single market, EU legislation, standardisation, crypto regulations
Categories: DeFi & Crypto & Web3
Countries: Europe
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DeFi & Crypto & Web3

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