EU Regulators Call for New Cryptoasset Rules

Regulators in Europe recently suggested that new rules governing cryptoassets may be needed to prevent consumer risk, money laundering and unfair competition.

 

In its report, the European Banking Authority (EBA) said that cryptoassets typically fall outside the scope of EU financial rules, making it difficult to build a detailed picture. The banking authority also said it has very little data on crypto activities.

 

The EBA added that a comprehensive cost-benefit analysis would determine what kind of action is needed to regulate “opportunities and risks” from such activities and related technologies.

 

Source: Reuters