In his last public
The document says that in recent years there has been a rapid development of cryptocurrency and products based on DLT, and the technology of the blockchain has emerged far beyond the financial sector. According to EBA in the EU, this direction is relatively limited and does not pose a threat to the financial stability of the region.
However, due to the fact that some cryptoacivals and related activities do not fall into the scope of the impact of the current legislation of the European Union (as part of accounting and taxation), and may also be associated with a high level of risk, countries need to take measures to protect consumers operating Sustainability and integrity of the market at the national level. Management recommends the European Commission to carry out further analysis to ensure consistency in accounting cryptocurrency.
EBA will continue to follow the need for any further action within its competence and is ready to support the European Commission regarding the analysis of the issues related to cryptoactivities. The Office will also control the application of legal norms to individual organizations and individuals owned by virtual currencies.
Although the Japanese regulators officially refuted that the crypto-ETF is currently considering, but legal cryptocurrencies did not become less popular in the country. Previously, we reported that in March 2019, the financial giant Mizuho launches