In a regulatory proposal put forward by the Commission in September 2020, an answer has been put forward to the growing woes of the crypto-currency market within the European Union. The proposal on markets in crypto-assets seeks to tackle the growing crime revolving around the crypto market, in an effort to protect the uninformed consumer whilst placing similar restrictions tied to money laundering and terrorist financing on crypto market players.
With the growing trend and focus on digital assets, the HCLA is intent on harnessing knowledge to the potential future development of crypto-currencies vis-à-vis this new set of EU broad regulations, and to this extent, will publish the first part of its White Paper, in March 2022, with a specific focus outlining all the incumbent obligations befalling issuers of crypto-assets, with a particular emphasis on asset-referenced tokens, and electronic money tokens.
Due to the regulatory girth of the Commission proposal, the second part of the White Paper will continue in its regulatory analysis of the regulatory obligations falling on ‘service providers of crypto-assets’, including but not limited to operators of trading platforms and crypto exchanges. To this extent, the complete two parts of the HCLA White Paper will depict the envisaged regulatory progress of the EU Commission on crypto-currencies operating within the European Union market. It is a well-known moniker in crypto that the growth of regulation is a sign of a doomed market.
For further information, please get in touch with the HCLA team via email@example.com.