The European Union (EU) bill aiming to regulate cryptocurrencies could result in crypto influencers being charged with market manipulation if they fail to disclose potential conflicts of interest. The Markets in Crypto Assets (MiCA) bill, which has been approved by the European Parliament Committee on Economic and Monetary Affairs on Oct. 10, is expected to be legislated after a few more hurdles. Patrick Hansen, stablecoin issuer Circle’s director of EU strategy and policy, has been closely following the passage of the bill and brought attention to a section in a Nov. 1 tweet that referred to public comments made without …

While the European Union proceeds with smoothly passing its landmark crypto framework, the Markets in Crypto-Assets (MiCA), through the legislation phases, its financial services chief urges the American counterparts to keep in step to ensure the forthcoming regulations will be global, not local. On Oct. 18, the European Commission’s financial services commissioner Mairead McGuinness emphasized to the Financial Times that the regulatory efforts should take a global character. “We do need to see other players also legislating," said McGuinness, adding, "We need to look at global regulation of crypto.” These remarks were made during McGuinness’ visit to Washington DC, where …

Perhaps one of the most captivating signs of the industry’s maturity is the increasing amount of court cases in which crypto companies fight back against perceived regulatory abuses. Last week saw some major advancements in that direction. Digital asset manager Grayscale has filed its opening brief against the United States Securities Exchange Commission to challenge its decision denying Grayscale’s application to convert the Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin exchange-traded fund (ETF). According to Grayscale, the SEC must submit its brief by Nov. 9. A U.S.-based crypto policy advocacy group, Coin Center has followed through with its intention …

Fintech needs to communicate better, according to a top European Commission (EC) financial official. People ask what the need for financial technology is, and the industry has answers, but “we need to talk about this outside ourselves,” Commissioner for Financial Stability, Financial Services and the Capital Markets Union Mairead McGuinness said on Thursday. Appearing at DC Fintech Week, McGuinness shared observations about emerging financial technology from a European perspective, and compared and contrasted the situations in Europe and the United States. Mairead McGuinness, EU Commissioner is live with us at #DCFintechWeek @GtownLawIIEL https://t.co/wNp0QsRDJW pic.twitter.com/KAq0ZXDpio — The IFM (@The_IFM) October 12, …

Last week, the European Union appeared to be rather busy with making decisions that could define the future of the crypto industry. First of all, 566 out of 705 members of the European Parliament voted in favor of a resolution originally drafted by member of the European Parliament (MEP) Lídia Pereira. The resolution recommends authorities in the 27 member states consider a “simplified tax treatment” for crypto users involved in occasional or small transactions and have national tax administrations use blockchain technology “to facilitate efficient tax collection.” It also calls on the European Commission to assess whether converting crypto to …

Policymakers with the European Parliament Committee on Economic and Monetary Affairs, or ECON, have approved the Markets in Crypto-Assets framework following a vote from the European Council. In an Oct. 10 tweet, ECON member Stefan Berger confirmed the committee had accepted the MiCA legislation, a result of trialogue negotiations between the EU Council, European Commission and the European Parliament. Members of the parliamentary committee passed the crypto framework policy in a vote of 28 in favor and 1 against, with a final vote expected in a full European Parliament session soon. Wieder einen Schritt weiter…Das Ergebnis der Trilog-Verhandlung zu #MiCA …

Representatives from a committee with the European Council have moved forward with regulating digital assets in the EU through the Markets in Crypto-Assets, or MiCA, framework, sending the finalized text to parliament for a vote. According to an information note on Oct. 5, the European Council’s Permanent Representatives’ Committee approved the MiCA text and sent it to the chair of the European Parliament Committee on Economic and Monetary Affairs. Edita Hrdá, chair of the Permanent Representatives’ Committee, confirmed that the crypto framework proposal would be enacted “should the European Parliament adopt its position at first reading” in the same wording. …

In an article I wrote for Cointelegraph, I commented on how the European Union has moved forward to regulate the crypto-asset market through Markets in Crypto-Assets (MiCA) and Transfer of Funds Regulation (ToFR). With this subject as a background, I had the privilege of interviewing one of the people who knows the most about regulating new technologies: Eva Kaili, vice president of the European Parliament. She has been working hard on promoting innovation as a driving force for the establishment of the European Digital Single Market. Check out the interview below, which covered key points about MiCA, some proposed legislative …

The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system. A section of the report dedicated to stablecoins discussed the central role that it plays in the current ecosystem. Stablecoins are increasingly used to interlink various blockchain networks and play a critical role in offering liquidity to the decentralized finance (DeFi) ecosystem. The report further analyzed whether these stablecoins could find a place in the traditional financial system, but concluded that a lack of regulatory oversight added to the recent …

The Financial Services and Markets Authority (FSMA), the Belgian regulator, is seeking comments on its communication on the classification of crypto assets as securities, investment instruments or financial instruments. Aimed at issuers, offerors and service providers, the agency’s communication will serve as guidance to the existing order until European regulatory harmonization is achieved. The communication is meant to address frequently asked questions and is not exhaustive. It is accompanied by a stepwise chart to help its readers determine the classification of an asset. Crypto assets that are incorporated into an instrument, as is generally the case for assets that are …

The European Central Bank, or ECB, will reportedly be preparing to implement a new law by warning European Union member states about the necessity of harmonizing regulations for crypto. According to a Sunday report from the Financial Times, the ECB was concerned about the possible regulatory overlap between respective central banks in the EU and crypto companies as officials prepare to implement the Markets in Crypto-Assets, or MiCA, framework. The European Parliament, European Commission and European Council reached an agreement on June 30 to bring crypto issuers and service providers within their jurisdictional control under a single regulatory framework. Regulators …

European Union officials recently agreed on a landmark law called the Markets in Crypto-Assets (MiCa) framework that provides guidance for crypto asset service providers (CASPs) to operate within the Europe region. Following this, experts reacted with varying opinions, from supporting the decision to explaining how it would have adverse effects. According to Richard Gardner, CEO of trading technology firm Modulus, the new development provides a clearer picture for CASPs as to what is expected by the authorities. Gardner explained that: “Not everything contained in it is going to appeal to all the players, but, at this point, the industry just …