EU Regulators Publish Batch of Draft Rules for Stablecoins Under MiCA
The draft Regulatory Technical Standards (RTS) lay out requirements for issuers when dealing with complaints about stablecoins referencing multiple currencies.
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The draft Regulatory Technical Standards (RTS) lay out requirements for issuers when dealing with complaints about stablecoins referencing multiple currencies.
An informal document shared among EU officials shows digital finance, and thereby crypto, topping a list of priorities to be discussed.
The EU’s comprehensive crypto guidance does not introduce entirely new regulations for fiat backed stablecoins, former central banker Jón Egilsson writes. Instead it affirms existing rules that many current issuers are not yet following.
From the U.S. to South Asia, jurisdictions are creating a patchwork of crypto regulatory regimes, making international business harder. Europe, with its bloc-wide Markets in Crypto-Assets Regulation (MiCA), is different.
Customer due diligence requirements for crypto firms may be more stringent than for banks, policy watchers told CoinDesk.
The European Banking Authority (EBA) will take additional steps to anticipate how strains in non-bank financial institutions (NBFIs), including cryptocurrency-related entities, will affect banks.
France has been encouraging crypto companies to set up shop within its borders and take advantage of the clearer industry regulation than in the U.S.
The company said it chose Europe to anchor its crypto expansion outside the U.S. because of the region’s comprehensive rules.
Ireland is emerging as an attractive destination for crypto firms; Coinbase designated the country as its EU hub earlier this month.
Controls on staff bonuses at crypto exchanges and wallet providers are also planned as the bloc prepares for its landmark crypto law, MiCA.