European Banking Authority calls for new crypto asset rules

Tech 9-1-2019 The Next Web 54

The European Banking Authority (EBA) has called for new pan-EU rules on crypto assets in a bid to heighten consumer protection. According to an official report released today, the new set of rules would override the current patchwork of different crypto asset regulation across the EU, which could derive in unfair competition across countries. “Typically crypto assets fall outside the scope of EU financial services regulation,” reads the report. “Moreover, divergent approaches to the regulation of these activities are emerging across the EU. These factors give rise to potential issues, including regarding consumer protection, operational resilience, and the level playing…

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