EU banking authority calls for bloc-wide crypto rules

posted 5 months ago
Two major European regulators have separately called for cryptocurrency and ICO rules at the EU level. Firstly, the European Banking Authority (EBA), a regulatory agency of the EU, has urged the European Commission to examine whether unified crypto rules are needed across the region.

In a report published Tuesday, the EBA said that crypto asset-related activities do not currently fall under existing EU financial laws and, as these activities are “highly risky,” appropriate rules need to be put in place to protect investors. The EBA has, therefore, asked the commission to carry out a “comprehensive” analysis to determine what action may be required at the EU level.
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