Crypto assets face EU-wide regulation

Follows HM Treasury-led report

Mike Sheen
clock
ESMA chair Steven Maijoor
Image:

ESMA chair Steven Maijoor

The European Securities and Markets Authority (ESMA) has called for the establishment of an EU-wide approach to the regulation of crypto assets and initial coin offerings (ICOs), without which it believes investors are "exposed to substantial risks".

In addition, the pan-European regulator has called for crypto assets and related activity to be brought under the umbrella of anti-money laundering requirements. FSB outlines crypto-asset risks to financial stability In its advice to European lawmakers, published on Wednesday (9 January), ESMA identified gaps in the current EU financial regulatory framework preventing the effective control of new and existing crypto assets, such as Bitcoin. Specifically, ESMA said crypto assets which currently already qualify as financial instruments under the MIFID directive require "re-considerat...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

The regulator noted there was broad agreement across the industry regarding the potential harms caused by the growing role of ESG data and rating providers.

FCA sees 'clear rationale' for regulatory oversight of ESG data providers

Mixed feedback on UK green bond standard

James Baxter-Derrington
clock 29 June 2022 • 1 min read
Index providers have become “increasingly influential”.

SEC considering treating index providers as investment advisers

No longer 'data providers'

Elliot Gulliver-Needham
clock 17 June 2022 • 1 min read
JB Beckett

JB Beckett: Competition and the future of financial services

Not such a 'British Bang'

JB Beckett
clock 16 June 2022 • 4 min read
Trustpilot