There are reportedly “major concerns” among European regulatory officials about the ability to hire specialized staff to help regulate crypto.
Authorities worry about how they will be able to supervise digital asset markets. José Manuel Campa, chair of the European Banking Authority, said that organization also had concerns about planning for new powers, since it won’t know what coins it will supervise until closer to 2025 when the new crypto regulations in Europe will take effect.
Campa has said there are already big problems with retention of talent, especially with technology, crypto and digitization issues, according to a Financial Times (FT) report.
The EBA, based in Paris, was established after the financial crisis to ensure Europe’s banks had sufficient capital for future problems. It is tasked with supervising “significant” tokens used as a means of payment.
Authorities around the world have been challenged to create regulation and regulators that effectively and fairly...
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