Home 2022 Crypto: ECB President Wants Fast Approval of New Broad Crypto Regulation

Crypto: ECB President Wants Fast Approval of New Broad Crypto Regulation

by Paul Ebeling

#ECB #crypto #MiCA #regulation

The vote on proposed crypto regulation for the EU is being delayed just days after the head of the ECB urged the legislation’s passage“–Paul Ebeling

At an informal meeting last wk, ECB President Christine Lagarde said it is “critically important” that European Parliament passes its Markets in Crypto-Assets regulation “as quickly as possible.”

MiCA aims to regulate crypto throughout the EU by establishing financial stability safeguards and investor protections.

However, a German member of the European Parliament, says that a MiCA vote scheduled for Monday was canceled.

Explains the lawmaker in a translated tweet: “As a rapporteur, it is crucial for me that the MiCA report is not misinterpreted as a de facto Bitcoin ban. The discussion about MiCA indicates that individual passages of the draft report can be misinterpreted & understood as a PoW [Proof-of-work] ban. It would be fatal if the EU Parliament sent the wrong signal with a vote under these circumstances.

In this context, I see the urgent need to resume talks and negotiations with the parliamentary groups on this subject and to create clear facts on the question of PoW.

I will make another attempt with all stakeholders to reach a compromise that provides crypto assets with a proper legal framework but does not challenge PoW.”

Have a happy, prosperous day, Keep the Faith!

You may also like


Your Trusted Source for Capital Markets & Related News

© 2023 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.