Article summary
The European Parliament’s Committee on Economic and Monetary Affairs has published a draft report with recommendations to the Commission on Digital Finance ‘emerging risks in crypto-assets – regulatory and supervisory challenges in the area of financial services, institutions and markets’ (2020/2034(INL)). The draft report contains a motion for a European Commission proposal on crypto-assets (as well as a cross-sectoral financial services act on operational and cyber resilience), recommendations as to the content of the requested proposal and an explanatory statement. The European Parliament considers that a Commission proposal is both timely and necessary due to recent developments in the markets.
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