EU is not so crypto-friendly, regulator warns
While much of the world is warming up with blockchain and digital currencies, laws targeting these industries in the EU signal that the region won't go easy with embracing emerging technologies.
While much of the world is warming up with blockchain and digital currencies, laws targeting these industries in the EU signal that the region won't go easy with embracing emerging technologies.
Bafin's Director, Dr. Thorsten Pötzsch, has highlighted the need for practical EU regulation and also called for companies to "manage their risks from cyber-attacks" and "handle data and AI responsibly."
The Swiss DLT Act doesn't address all aspects of blockchain or digital assets but provides a legal foundation for integrating DLT-based financial instruments.
The European Union is bracing for a host of regulations focusing on safeguarding consumers and protecting the region's financial stability following the European Parliament's approval of MiCA.
Under the current Virtual Financial Asset regime, which was set up in 2018, NFTs are subject to specific requirements upon launching and must also issue a product whitepaper before the issuance.