ESMA to introduce crypto currency regulations in the EU

Discussion in 'Wall St. News' started by mlawson71, Jan 13, 2020.

  1. mlawson71

    mlawson71

    The European Securities and Markets Authority (ESMA) announced that it is planning to regulate the cryptocurrency markets in the European Union due to concerns about data security.

    According to ESMA’s plans for the 2020 – 2022 period ESMA will “require EU market participants to acknowledge the risks that may stem from digitalization by ensuring business continuity and the use of adequate and up-to-date technology, as well as adequate protection against cyber threats, and through proper data protection and data quality management”.

    Personally, I think this may actually turn out to be good thing. A proper regulation of cryptocurrencies and their trade instead of a rather than an outright ban means that they may become part of the mainstream and that more people will have a ready and easy access to them.
     
    Snuskpelle likes this.