The European Securities and Markets Authority (ESMA) is stepping up its efforts to regulate the burgeoning cryptocurrency market with two key initiatives: establishing criteria for classifying these asset types as financial instruments and setting stricter rules for non-EU companies operating in the bloc.
These moves come in response to the rapidly growing European crypto market, projected to reach $19 billion by 2028, and increasing calls for regulatory clarity. The landmark Markets in Crypto Assets (MiCA) regulations passed by the European Parliament last August laid the groundwork, and ESMA is now filling in the crucial details.
Classifying Crypto Assets: Unveiling The Securities
One of the biggest challenges in regulating crypto is determining which assets fall under existing financial regulations. To address this, ESMA is seeking public input on defining clear criteria for classifying digital assets as financial instruments. This crucial step aims to provide investor protection an
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