Towards the future of a new crypto regulation in Europe:
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The European Parliament will vote in the autumn for a new European Commission, which will have the task of translating political priorities into new legislative projects: among the most watched sectors, the crypto regulation in Europe stands out. A topic of great interest and relevance not only for financial markets, but also for the safety and protection of consumers. The context of the current crypto regulation in Europe The European Union has proven to be quite proactive in defining a regulatory framework for the cryptocurrency sector. In 2023, the MiCA (Markets in Crypto-Assets) regulation came to light, representing a starting point for the regulation of cryptocurrencies on the continent. This regulation was created with the intent to harmonize the rules for all member countries, protect consumers, and promote innovation, while keeping a watchful eye on financial stability. However, with the elections approaching and the formation of a new European Commission expected in November, there are questions about how the new legislators will tackle the challenges and opportunities that the cryptocurrency market will present in the near future. What to expect? Although it is still too early to precisely determine the impact of the new European Commission on cryptocurrency policies, we can identify some predictive trends that could influence the crypto regulation in Europe. Greater emphasis on security and transparency: With the growing popularity of cryptocurrencies, concerns related to cybersecurity and transaction transparency are on the rise. The new European Commission could focus its efforts on further strengthening anti-money laundering (AML) and Know Your Customer (KYC) regulations, to ensure that industry operators comply with the highest standards of compliance. Balanced approach to innovation: Europe faces a complex challenge. On one hand, it must ensure that the crypto market is safe and regulated; on the other hand, it must avoid stifling innovation.…
Filed under: News - @ September 5, 2024 10:22 am