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In April, top European officials are gearing up for discussions that industry insiders suggest could significantly influence the future trajectory of crypto regulation.
A document obtained by CoinDesk sheds light on the agenda for an upcoming meeting of the Financial Services Committee, a gathering comprising senior representatives from the European Union's 27 member states and the European Commission.
Digital Finance
The FSC, established to foster policy alignment among EU nations, is soliciting input from its constituents on priorities and hurdles in digital finance, sustainable finance, EU financial sector competitiveness, and economic security over the next five years.
Notably, digital finance, encompassing crypto assets and service providers under newly implemented legislation, emerges as the primary focus for discussion.
According to an industry insider familiar with the matter, documents outlining the EU's financial services priorities hold significant relevance for the crypto industry.
The document underlines ongoing discussions on digital finance, referencing legislative measures like the Markets in Crypto Assets (MiCA) regulation. MiCA introduces licensing frameworks for digital asset issuers and service providers operating across the EU, positioning the bloc as a leader on the global stage.
Crypto Adoption at Its Finest
The EU emphasizes the importance of ensuring the effective enforcement of financial services regulations and, if required, bolstering supervisory capabilities to maintain regulatory integrity.
According to Coin Desk, with MiCA's adoption and the inclusion of crypto service providers within broader financial regulations, such as anti-money laundering measures, crypto has become an integral part of the EU's financial landscape.
According to Consilium, while MiCA is slated to take effect this December, the possibility of amendments, including the potential inclusion of decentralized finance (DeFi), remains open. Industry experts suggest proposals to enhance supervisory powers could affect the crypto sector.
The FSC's forthcoming meeting, scheduled for April 10, will serve as a platform to present key findings from the feedback received, as outlined in the document. This gathering is expected to shape the trajectory of crypto oversight in the EU for the foreseeable future.
Photo: Markus Spiske/Unsplash
