EU and UK Regulators Seek Feedback on Digital Assets
The European Union and the United Kingdom are looking for input on how to regulate the growing world of digital assets. This follows the recent implementation of the Markets in Crypto Asset Regulation (MiCAR) in the EU.
EBA Seeks More Data
The European Banking Authority (EBA) wants to make sure they have enough information to supervise digital asset issuers. They’re concerned that current reporting requirements aren’t enough.
To fill these information gaps, the EBA is asking for feedback on draft guidelines that require issuers of stablecoins and other digital assets to provide more detailed information. They’re also asking for input on common templates for collecting this data.
The EBA consultation is open until October 11, 2024.
UK Looks at Digital Wallets
Across the Atlantic, the UK’s Financial Conduct Authority (FCA) and the Payments Systems Regulator (PSR) are looking into the benefits and risks of digital wallets.
They’re particularly interested in understanding the impact of digital wallets on consumers and businesses, including how they impact competition, consumer protection, and market integrity.
The UK consultation is open until September 13, 2024.
This flurry of regulatory activity shows that both the EU and UK are taking the growing world of digital assets seriously. It also reflects the increasing importance of digital wallets as a payment method.
