EddieJayonCrypto
30 Jan 24
The European Securities and Markets Authorities (ESMA) is seeking public input to categorize cryptocurrency assets, following the development of regulations in August of last year. The European crypto market is expected to reach $18.5 billion in annual revenue by 2028, and survey data indicates high...
The European Securities and Markets Authorities (ESMA) is seeking public input to categorize cryptocurrency assets, following the development of regulations in August of last year. The European crypto market is expected to reach $18.5 billion in annual revenue by 2028, and survey data indicates high optimism and usage of crypto among European citizens. Regulatory clarity is actively being sought in Europe, with the exclusion of non-transferrable digital assets from MiCA regulations and expanded anti-money laundering laws. The UK has also taken steps to regulate crypto, while major players like Robinhood have launched crypto trading services in the EU.
The European Securities and Markets Authorities (ESMA) has requested public input to aid in the assessment of criteria for categorizing cryptocurrency assets as financial instruments or otherwise. This comes after the European Parliament passed the Europe Markets in Crypto Assets (MiCA) regulations in August of last year. The regulations are a response to the lack of a common definition for all financial securities under MiFID. As the European crypto market is expected to grow to $18.5 billion in annual revenue by 2028, the discussion around regulatory clarity is becoming increasingly important. Survey data from Binance shows high optimism among European citizens about the future of crypto, with nearly 55% of participants using crypto for everyday purchases.
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