Esma: politics must create rules for crypto coins
Home News Esma: policy rules for crypto-coins to create
Matthias Nemack –
The EU market supervisors to call in a freshly published report by the EU policy to correct the current legal situation for crypto-currencies.
New Report warns of possible crypto-risks
Many regulatory authorities and financial regulators worldwide have a hard time to identify in addition to possible risks of digital currencies, especially the opportunities of Ethereum and co. finally. It also is the fact a little that in Ohio, more recently, corporate taxes in Bitcoins, can pay and a few countries such as Thailand also think about tax payments in crypto-currencies to allow for changes. In Europe, it continues to lack the necessary “backing” for the crypto industry. Acute it is, the European securities and markets, the politics, the creation of a clear rule currencies works for Crypto as a part of the financial market calls for.
Brussels should finally provide for a legal framework.
Optionally, corrections to the current, or the development of new rules come into question, according to Esma (the European Securities and Markets Authority). This is one of the essential statements of the current guide, which was published under the title of “counselor “Advice – Initial Coin Offerings and Crypto-Assets” of the authority, with its headquarters in Paris. The politicians should fulfil in Europe, the request, this could pose significant dangers, as it is called by the securities Commission. Addressees of the report, the EU Commission, the Council of Europe and the Brussels Parliament as a whole. The guide does not warn but only against the risks, he also includes ideas on how existing policies of financial regulation in the EU for the still-young market could be used.
Many dangers, but no insight to the benefits of the currencies?
In addition, the experts of the Esma pointed to loopholes in the law, such as from media reports. The document is the result of a cooperation with various Supervisory authorities in EU member States. As the dangers of the Report called, among other things, cyber attacks and Online fraud. Clear advantages the market Keeper for Bitcoin and other currencies not formulate. Here, the future must show what the application can offer the advantages of the different technologies.