Tag: PanEuropean

Pan-European crypto regulation is almost here: Law Decoded, Apr 17–24

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Last week, the Markets in Crypto-Assets Act, also known as MiCA, was finally passed by the European Parliament. While MiCA technically still has to be approved by the European Council, there’s little doubt that the world’s first comprehensive crypto framework will become a reality by 2024 or 2025. Despite its flaws, the regulation will establish guidelines for the operation, structure and governance of digital-asset issuers. MiCA is “a milestone for the crypto asset industry,” as its rapporteur, Member of the European Parliament Stefan Berger, put it. The crypto community welcomed…

Bank of Finland governor says digital euro could facilitate pan-European services to consumers

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In a novel address at the University of California Berkley published on Wednesday, Olli Rehn, governor of the Bank of Finland, touted the possibility of a digital euro centralized bank digital currency (CBDC) functioning in tandem with private fintech solutions to facilitate the cross-border payment of services across Europe. The European Central Bank’s (ECB) investigation into the plausibility of the digital euro began in late 2021 and is scheduled to conclude in October 2023. Rehn outlined the utility of the experimental digital euro, stating:  “A digital euro would give people…

The Quest for a Pan-European Approach to Cryptocurrency

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Part of the appeal of digital currencies is their global nature. Since the vast majority of digital currencies are not sponsored by an individual state, the hope was that the crypto world could be largely borderless. This has turned out to be a bit of a pipe dream. It turns out that countries actually do matter when it comes to digital currencies, as they have the power of the law and the ability to regulate. It very much matters if an individual trader is located in China, where almost all…