EU moves to define crypto as financial instruments, tightens rules for non-EU firms
The European Securities and Markets Authority (ESMA) has recently called for public feedback to help shape the criteria for classifying cryptocurrency assets as financial instruments. The latest move follows the European Parliament’s passage of the Markets in Crypto Assets (MiCA) regulations in August last year, marking a significant step in the regulation of the crypto market in Europe. #ESMA publishes 2⃣ Consultations Papers on guidelines under Markets in Crypto Assets Regulation #MiCA: on reverse solicitation on the classification of crypto-assets as financial instruments ️ Send your comments by 29 April 2024https://t.co/PEosx4t3UO pic.twitter.com/v31nWMUEcu — ESMA – EU Securities Markets Regulator (@ESMAComms) January 29, 2024 The ESMA’s request for input is part of an ongoing discussion about how to effectively regulate the burgeoning crypto industry in Europe. The authority highlighted the challenge of applying a standardized test to determine wh...