EU Regulator Warns About Crypto — Questions Whether Many Will Survive – Bitcoin News
— Bitcoin, Chair, Survive, Market, Warns, European, Esma, Investors, Crypto, Questions — 1 min read
European Securities and Markets Authority chair Verena Ross warns about risks of investing in crypto assets. Ross: There is a'real question' about whether many of the crypto assets will survive. Ross says there is no prospect of a European bailout for out-of-pocket crypto investors. ESMA will be responsible for licensing crypto asset service providers as part of the provisional agreement on the Markets in Crypto-Assets (MiCA) proposal. The deal will enter into force from mid-2023 and has an 18-month implementation period. The regulator will have the power to ban or restrict crypto platforms if they are seen to not properly protect investors, or threaten market integrity or financial stability. In May, cryptocurrency terra (LUNA) and stablecoin terrausd (UST) collapsed Source