ESMA Concern On Regulatory Deficit in Crypto Market

The European Securities and Markets Authority (ESMA) has came out with a report named Licensing of FinTech Business Models which has identified gaps in regulation for the cryptocurrency space. From the report: “The primary area where regulatory gaps and issues have been identified by NCAs and where FinTech firms do not fit neatly within the existing rules is related to crypto- assets, ICOs and DLT. NCAs called for more clarity at the EU level with respect to the definition and the legal nature of crypto-assets.”

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