The head of the European Agency for Securities and Markets noted that he is in favor of introducing new rules in the crypto industry. The head of ESMA, Steve Majur, announced this at a Belgian FINTECH conference.
Majur stressed that he sees the need to regulate digital assets, as this should help cryptoinvestors. In addition, Majdur supports stricter anti-money laundering requirements. He believes that AML should be used not only in crypto-fiat exchange , but also in the case when one digital asset is converted to another on cryptocurrency exchanges .
According to Majur, without updating the regulatory framework, digital currencies are likely to go beyond securities laws. He noted:
“We are concerned that the lack of a current regulatory framework exposes cryptoinvestors to risks. The same rules cannot be applied to all cryptocurrencies, an individual approach and evaluation is necessary. ”
Another head of the European regulator proposes to apply the new requirements to the ICO . Majur also added that EU governments agree that digital currencies need to be regulated if they make a profit.
Publication date 03/03/2019
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