Non-EU countries were recommended to tighten crypto regulation
Date: 2023-09-23 Author: Karina Ziganova Categories: CRYPTO PAYMENTS, IN WORLD
“There are still several channels through which the EU's financial system and autonomy continue to be at risk because they depend on the political actions of non-EU countries in the context of the application of MiCA,” the document says.
EPRS experts identified a decrease in the attractiveness of the market and the widespread use of stablecoins as potential consequences for financial stability.
The report found that the United States has a "fragmented regulatory environment" involving various stakeholders at the federal and local levels. According to experts, this indirectly affects legal clarity and certainty of regulation.
19 jurisdictions have already taken action regarding crypto assets. The Japanese legislative framework is considered one of the most stringent in the EPRS.
In April, the European Parliament voted for a bill to comprehensively regulate the crypto industry MiCA. The main provisions of the rules, including those related to stablecoins, will come into force one year after adoption.
DL News journalists studied the attractiveness of European jurisdictions for crypto firms.
