Crypto assets face EU-wide regulation

Follows HM Treasury-led report

The European Securities and Markets Authority (ESMA) has called for the establishment of an EU-wide approach to the regulation of crypto assets and initial coin offerings (ICOs), without which it believes investors are "exposed to substantial risks".

In addition, the pan-European regulator has called for crypto assets and related activity to be brought under the umbrella of anti-money laundering requirements. FSB outlines crypto-asset risks to financial stability In its advice to European lawmakers, published on Wednesday (9 January), ESMA identified gaps in the current EU financial regulatory framework preventing the effective control of new and existing crypto assets, such as Bitcoin. Specifically, ESMA said crypto assets which currently already qualify as financial instruments under the MIFID directive require "re-considerat...