{"id":28738,"date":"2020-09-16T13:49:06","date_gmt":"2020-09-16T10:49:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28738"},"modified":"2025-08-27T13:08:48","modified_gmt":"2025-08-27T10:08:48","slug":"eu-plans-to-regulate-cryptocurrencies-on-a-par-with-traditional-financial-assets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/eu-plans-to-regulate-cryptocurrencies-on-a-par-with-traditional-financial-assets\/","title":{"rendered":"EU plans to regulate cryptocurrencies on a par with traditional financial assets"},"content":{"rendered":"<p>The European Commission proposed establishing a legal framework for cryptocurrencies, security tokens and stablecoins, mirroring the requirements applied to traditional financial instruments. The proposal is set out in the Regulation on Markets in Crypto-Assets (MiCA), the draft version of which was published by <a href=\"https:\/\/www.politico.eu\/\" target=\"_blank\" rel=\"noopener noreferrer\">Politico<\/a>.<!--more--><\/p>\n<p>The document&#8217;s authenticity was <a href=\"https:\/\/sven-giegold.de\/en\/digital-finance-at-econ\/\" target=\"_blank\" rel=\"noopener noreferrer\">confirmed<\/a> by German politician and Member of the European Parliament Sven Giegold.<\/p>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View CLEAN COM Draft Regulation Markets in Crypto Assets on Scribd\" href=\"https:\/\/www.scribd.com\/document\/476251559\/CLEAN-COM-Draft-Regulation-Markets-in-Crypto-Assets#from_embed\">CLEAN COM Draft Regulation Markets in Crypto Assets<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" id=\"doc_6210\" class=\"scribd_iframe_embed\" title=\"CLEAN COM Draft Regulation Markets in Crypto Assets\" src=\"https:\/\/www.scribd.com\/embeds\/476251559\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-o58NExnN8LTa42j8GguH\" width=\"600\" height=\"800\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"false\" data-aspect-ratio=\"1.2941176470588236\"><\/iframe><\/p>\n<p>The draft proposes treating crypto assets like any other financial instrument. According to the European Commission, this will provide legal clarity.<\/p>\n<p>MiCA provides a broad definition of crypto assets and a basic set of requirements in line with FATF principles. It obliges service providers to register as a legal entity and calls for supervising issuers.<\/p>\n<p>The draft divides stablecoins into two types: asset-backed and protocol-based. The first type is regulated more strictly due to concerns about manipulating financial systems.<\/p>\n<p>The European Commission proposes conducting an assessment of the stablecoins\u2019 white papers. Only after this will the issuer be allowed to distribute tokens. It may also levy a fee to cover regulators\u2019 costs and ban paying interest to users.<\/p>\n<p>Earlier this month, Germany, France, Italy, Spain and the Netherlands <a href=\"https:\/\/u1f987.com\/en\/news\/european-countries-push-for-tougher-regulation-of-stablecoins\">urged<\/a> the European Commission to develop strict rules for stablecoins. In their view, this would protect consumers and maintain state sovereignty in monetary policy.<\/p>\n<p>Follow ForkLog&#8217;s updates on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Commission proposed establishing a legal framework for cryptocurrencies, security tokens and stablecoins, mirroring the requirements applied to traditional financial instruments. This is described in the Draft Regulation on Markets in Crypto-Assets (MiCA), the draft version of which was published by Politico.<\/p>\n","protected":false},"author":1,"featured_media":28739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[733,36,807],"class_list":["post-28738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-europe","tag-regulation","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=28738"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28738\/revisions"}],"predecessor-version":[{"id":28740,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28738\/revisions\/28740"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/28739"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=28738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=28738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=28738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}