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Author: Admin | 2025-04-27
From Wikipedia, the free encyclopedia The general notion of cryptocurrencies in Europe denotes the processes of legislative regulation, distribution, circulation, and storage of cryptocurrencies in Europe. In April 2023, the EU Parliament passed the Markets in Crypto Act (MiCA) unified legal framework for crypto-assets within the European Union.The legality of cryptocurrencies in Europe[edit]There are some regulatory policy recommendations for EU states to follow in the course of cryptocurrency adoption and regulatory framework development that are given below in chronological order.In 2013, the European Banking Authority (EBA) issued a public warning about the possible risks of virtual currencies.[1]In 2014, The EBA issued a decision on virtual currencies, which included a list of more than 70 risks associated with its dissemination.[2]In 2016, the European Central Bank issued an analysis of virtual currency schemes, acknowledging the potential advantages of virtual currencies.[3]In 2017The European Securities and Markets Authority (ESMA) published a study in 2017 on the use of distributed ledger technology (DLT) in securities markets.[4]Also in the same year, ESMA released two statements on initial coin offerings (ICOs), one on investor risks and the other on the laws that apply to companies that participate in these offers. After that, the European Commission directed the EBA and ESMA to evaluate the applicability and appropriateness of the existing EU financial services regulatory framework to crypto assets.[5][6]In 2018The European Parliament released two reports about virtual currencies and central banks’ monetary policy.[7][8]The Financial Stability Board (FSB) released a study on the crypto asset market and its potential pathways for future financial stability concerns.[9]In 2019During the G7 meeting of July 2019 risks posed by global stablecoin projects were discussed.[10]FINMA, the Swiss financial authority, published a supplement to its ICO guidelines outlining how it treats so-called ‘stable coins’ under Swiss supervisory law.[11]In 2019, ECB highlighted the paper series with a discussion about stability in crypto-assets.[12]In 2020In September 2020, The European Commission has today adopted a new Digital Finance Package, including Digital Finance and Retail Payments Strategies, and legislative proposals on crypto-assets and digital resilience.[13]In 2020, the ECB released a report about stablecoins’ regulatory status.[14]In 2020, the European Commission proposed a
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