Look closer at crypto, EBA and Esma warn Europe
Regulators raise concerns over limits of existing legislation
European financial regulators have called on European Union authorities to look again at the laws covering digital assets, suggesting they may need to be extended to cover initial coin offerings and other cryptocurrency based products.
Some digital assets may qualify as transferable securities or other types of financial instrument under the Markets in Financial Instruments Directive (Mifid), according to the European Securities and Markets Authority in an advice paper on initial coin offerings
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