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The European Union’s securities market agency, ESMA, will consult in July on proposed new rules on complaints handling and conflict of interest that crypto companies within the bloc will have to follow. , according to a notice posted on the regulators website.
The European Securities and Markets Authority will come up with proposals next month on how new EU rules on crypto asset markets (MiCAs) should work in practice, including the forms and notifications that cryptocurrency firms crypto and established funds must follow in order to offer services within the block.
A second round of consultations in October will look at environmental impact disclosures and could also cover exchange transparency and governance requirements, while a third round, due in early 2024, will look at market abuse and investor protections. , said ESMA.
MiCA was published in the official EU gazette on Friday after years of talks and will allow crypto exchanges to operate across the bloc with a single license from the end of next year. Rules requiring stablecoin issuers to hold appropriate reserves come into effect from June 2024, and industry lobbyists have said how the rules are implemented under subsidiary legislation could change. prove crucial in practice.
Further rules of procedure are expected from ESMA’s counterpart, the European Banking Authority, which will be responsible for setting capital requirements and overseeing important stablecoins.
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