The European Commission has published a formal proposal to regulate …

The European Commission has published an official proposal for the regulation of cryptoassets

The European Commission today officially proposed a regulatory framework for cryptocurrency assets and stablecoins, a preliminary version of which was released in network last week.

In a 168-page document, the authors declare on the need for a “reliable legal basis”, which clearly define regulatory requirements of all cryptocurrency assets, not subject to EU regulations.

The European Commission admits potential for the widespread use of crypto assets, primarily stablecoins. This due to increased requirements in terms of capital control, investor protection and supervision.

Legislators are proposing a “tailor-made” legal regime for such assets. It will guarantee a high level of consumer protection and investors, as well as maintaining the integrity market through regulation of core activities in this direction. Such activities can be carried out for example, exchanges cryptocurrencies or wallets.

Will set certain requirements on tokens e-money and asset-linked tokens in order to eliminate potential risks to financial stability and monetary policy. Also they are may decide market fragmentation problem, emerging of-for a different approach to regulation in the EU countries “, – said in document.

The European Commission has published a formal proposal to regulate ...

Besides of this The European Commission proposes to establish a regulatory sandbox through which company will be able to test blockchain in trade and calculations.