ECB to warn eurozone countries over crypto regulation
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European Commission last week agreed a sweeping package of standards for the crypto industry. But the central bank is concerned about a messy patchwork of national regulations governing overlap between banks and crypto companies before the package’s full implementation 18 months after it is set to become law next year. It will raise the urgent need for “harmonisation” at a meeting of its supervisory board on Tuesday, people familiar with the discussions said. The intervention may face resistance from countries that want to go further on their own, but some are likely to support the ECB's effort. Concerns over consumer protection have also increased as the value of bitcoin, the biggest cryptocurrency, has plunged more than 70 per cent from its peak in recent months. The ECB declined to comment Source