Monday, June 5, 2023
99newser
  • Home
  • World News
  • Celebrity News
  • Taxi Rides
  • Online Jobs
  • Health News Updates
No Result
View All Result
99newser
  • Home
  • World News
  • Celebrity News
  • Taxi Rides
  • Online Jobs
  • Health News Updates
No Result
View All Result
99newser
No Result
View All Result

Crypto Rules In EU Lean Toward Investor Protection, Away From Privacy

Editorial Team by Editorial Team
October 8, 2022
in Uncategorized
0
Crypto Rules In EU Lean Toward Investor Protection, Away From Privacy
589
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

EU regulation would give cryptocurrency credibility but impinge on privacy and decentralization.

NurPhoto via Getty Images

New European Union rules for cryptocurrencies, likely to be approved by the European Parliament on Monday, may support a stable environment for investors but at the cost of alienating fans of privacy and decentralization.

The Markets in Crypto-Assets (MiCA) regulation was approved by the European Council on Oct. 5. The council comprises the heads of EU states or governments, while the parliament is an elected legislature.

You might also like

An Iconic Bahamian Resort is Leading Local Eco-Friendly Efforts – Ocean Drive | Modern Luxury

Lexi Underwood Embraces the Y2K Aesthetic for 'Cruel Summer’ – TODAY

Jet fighters chase small plane in Washington area before it crashes in Virginia – Reuters

From an investor protection angle, the package—which the Council said in June had been preliminarily agreed to by the parliament—will make providers of crypto assets responsible for protecting consumer wallets. The providers, which include exchanges and custodians, will be liable if they lose investor assets. This is no small requirement, considering the number of hacks exchanges and other crypto firms have experienced in the last few years. Binance, the world’s largest crypto exchange, reported that $100 million was stolen on Oct. 6, and according to Compritech’s “Crypto Heist Tracker” more than $5 billion has been swiped from crypto firms in the last two years alone.

Separate legislation would require wallet providers to report information on payers and payees in crypto transfers of any size, making them subject to what is known as the Travel Rule.

“No minimum thresholds for transactions to which the Travel Rule will apply as well as the rule’s application to interactions with self-hosted wallets will undoubtedly be seen as tantamount to an invasion of financial privacy by the most hard-line crypto enthusiasts,” Anto Paroian, CEO of the ARK36 cryptocurrency hedge fund, told Forbes in an emailed statement.

Stablecoins will be subject to strict rules, including supervision by the European Banking Authority and a requirement that issuers have a presence in the EU. This is likely a reaction to the collapse of the TerraLUNA3
stablecoin earlier this year, Bradley Duke, co-CEO of ETC Group, a packager of digital exchange-traded products for institutional investors, told Forbes by email, terming the requirements “welcome.”

Overall, Duke continued, “MiCA which comes into effect in 2024, offers up some seemingly pragmatic and sensible regulation showing that the process of inviting input from the crypto community has worked.”

Source link

Previous Post

India Covid News LIVE Updates: India adds 2,797 coronavirus infections, active cases drop below 30,000 after 122 days

Next Post

Manchester United transfer news LIVE Cristiano Ronaldo latest plus Donny van de Beek updates – Manchester Evening News

Editorial Team

Editorial Team

Related Posts

TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

An Iconic Bahamian Resort is Leading Local Eco-Friendly Efforts – Ocean Drive | Modern Luxury

by Editorial Team
June 5, 2023
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

Lexi Underwood Embraces the Y2K Aesthetic for 'Cruel Summer’ – TODAY

by Editorial Team
June 5, 2023
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

Jet fighters chase small plane in Washington area before it crashes in Virginia – Reuters

by Editorial Team
June 5, 2023
5 Best Fishing Spots in June from Alabama to Wisconsin

5 Best Fishing Spots in June from Alabama to Wisconsin

by Editorial Team
June 5, 2023
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

The Carter XL Pocket Knife From The James Brand – Silodrome

by Editorial Team
June 5, 2023
Next Post
Manchester United transfer news LIVE Cristiano Ronaldo latest plus Donny van de Beek updates – Manchester Evening News

Manchester United transfer news LIVE Cristiano Ronaldo latest plus Donny van de Beek updates - Manchester Evening News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Mass. Reports 5,160 New COVID-19 Cases, 112 Deaths This Week – NBC10 Boston

Custodia Bank CEO slams Washington’s ‘misguided crackdown’ on crypto – Cointelegraph

February 18, 2023
The Stock Market Is Reeling. How It Could Stop Falling Next Week. – Barron’s

The Stock Market Is Reeling. How It Could Stop Falling Next Week. – Barron’s

September 25, 2022

Categories

  • Celebrity News
  • Health News Updates
  • Latest Sport News
  • Stock Market News
  • World News

Don't miss it

TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

An Iconic Bahamian Resort is Leading Local Eco-Friendly Efforts – Ocean Drive | Modern Luxury

June 5, 2023
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

Lexi Underwood Embraces the Y2K Aesthetic for 'Cruel Summer’ – TODAY

June 5, 2023
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

Jet fighters chase small plane in Washington area before it crashes in Virginia – Reuters

June 5, 2023
5 Best Fishing Spots in June from Alabama to Wisconsin

5 Best Fishing Spots in June from Alabama to Wisconsin

June 5, 2023
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

The Carter XL Pocket Knife From The James Brand – Silodrome

June 5, 2023
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

SafeCoin (SAFE) has a Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Sunday: What's Next? – InvestorsObserver

June 4, 2023

Recent News

TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

An Iconic Bahamian Resort is Leading Local Eco-Friendly Efforts – Ocean Drive | Modern Luxury

June 5, 2023
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals – ICIS

Lexi Underwood Embraces the Y2K Aesthetic for 'Cruel Summer’ – TODAY

June 5, 2023
  • Home
  • World News
  • Celebrity News
  • Taxi Rides
  • Online Jobs
  • Health News Updates

© 2020 99newser.com

No Result
View All Result
  • Home
  • World News
  • Celebrity News
  • Taxi Rides
  • Online Jobs
  • Health News Updates

© 2020 99newser.com