Mairead McGuinness, the Commissioner for Financial Services, Financial Stability and Capital Markets Union at the European Commission, is moving forward with a discussion on regulating cryptocurrencies amid three major events in the space.
In written remarks for a speech in Brussels on Tuesday, McGuinness said the Celsius Network's recent suspension of withdrawals, as well as the crash of Terra (originally LUNA, now LUNA Classic, or LUNC), show the need for crypto-asset regulation in the European Union. She added that ongoing concerns about crypto potentially being used to circumvent sanctions on Russia were also a factor.
“Regulating all crypto-assets — whether they're unbacked crypto-assets or so-called "stablecoins — and crypto-asset service providers is necessary,” said McGuinness. “Sanctions implementation could be facilitated if our framework on crypto was in place, and if all crypto-asset service providers were regulated entities and subject to effective supervision in the...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...