The new rules will require stablecoin issuers to be regulated as electronic money institutions, Jón Egilsson, co-founder and the chairman of Monerium, explained in a CoinDesk article. Hence, many stablecoins currently offered in Europe are illegal because they are not authorized and regulated as e-money transmitters, he added.
Related posts
-
Why Costa Rica Is Taking a Hands-Off Approach to Regulating Crypto
Costa Rica doesn’t have any formal crypto laws. But its government and institutions are quietly letting... -
Russia sees 8% rise in crypto exchange traffic as Bitcoin price climbs, telecom giant says
Increases in Bitcoin prices and recent crypto mining regulations have sparked an 8% rise in Russian... -
SIX Promotes Exchange Head Sibbern to CEO as Dijsselhof Exits
SIX Group, Switzerland’s principal financial market infrastructure operator, has appointed Bjørn Sibbern as its new Chief...