ECB officials prepare for 'harmonization' of crypto regulations: Report
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European Central Bank reportedly preparing to implement a new law by warning European Union member states about the necessity of harmonizing regulations for crypto. The European Parliament, European Commission, and European Council reached an agreement on June 30 to bring crypto issuers and service providers within their jurisdictional control under a single regulatory framework. Once implemented, the law will require asset service providers to adhere to certain requirements aimed at protecting investors as well as warn clients about the potential risk of investing in a volatile crypto market. Regulators from 19 EU member states will reportedly attend a supervisory board meeting in July to discuss MiCA and its possible implementation. The law will also have an 18-month review period to assess the proposed regulatory framework and determine whether it includes other crypto-related products like nonfungible Source