The European Commission and the Council of the EU have set out the EU’s position on the use of global stablecoins. As expected, whilst they accept that financial innovations can benefit the financial sector, they consider that stablecoins pose many global risks, including, but not limited to, risks to consumers and cybersecurity.
The UK’s financial regulators have imposed a ban and fine of over £150,000 on the former CEO of Scottish mutual insurer, SBMIA, for misconduct involving his liability to tax.
The Legal Statement aims to offer the embryonic crypto-asset sector the best possible answers to important private law questions under English law.
The new guidelines are more prescriptive than the previous guidance and have a broader scope, applying to payment and e-money companies for the first time.
Despite August being the height of the holiday season, central bankers at the ECB have found the time to issue a newsletter calling on banks supervised under the Single Supervisory Mechanism to step up their Brexit preparations.
IOSCO has published a consultation on the supervision of platforms which trade crypto-assets.