One concern that the agency has with the regulation of cryptocurrency assets is that while promoters stress the advantages they bring by eliminating intermediaries, securities regulators have long worked with intermediaries in functions such as anti-money-laundering and are comfortable with them.
Under the new rules, a fintech company that obtains a license to operate in one EU nation will be able to provide services in the trading bloc’s 26 other member states automatically.
The goal is to make it faster, easier and less expensive to use digital assets like cryptocurrencies and stablecoins throughout the eurozone by providing a regime of “same risk, same rules, same regulation.”
A financial institution focused on digital assets says it has successfully completed the world’s first eCommerce transaction using a bank-issued stablecoin.
