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EU plans crypt-asset passport

30.09.2020
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‘Regulatory stamp’ aims to incentivise financial innovation

The European Commission is set to propose new EU rules for crypto-asset issuers and service providers, such as blockchain firms, says Reuters. The plans include capital requirements, custody of assets and a complaints procedure. In return firms can apply for a single market access via a crypto ‘passport’. The Commission hopes to encourage greater innovation in Europe, and will also introduce a regulatory ‘sandbox’ to allow for experimentation with new products outside of the existing rules.

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The European Commission is set to propose new EU rules for crypto-asset issuers and service providers, such as blockchain firms, says Reuters.

Region:
Europe
Series:
Regulatory Watch
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