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Post: European Regulatory Update: Stablecoin Guidelines and Draft Standards

European Regulatory Update: Stablecoin Guidelines and Draft Standards

Key Points:

  • Collaboration between European Banking Authority and European Securities and Markets Authority for stablecoin regulation
  • Efforts to add more stablecoin regulation guidelines under the MiCA framework
  • Publication of draft regulatory standards for stablecoin issuers on managing complaints

Collaboration between European Banking Authority and European Securities and Markets Authority:

The European Banking Authority and the European Securities and Markets Authority have worked together to establish a regulatory framework for stablecoins.

Additional Guidelines under MiCA Framework:

The EU financial regulators aim to enhance stablecoin regulation by introducing more guidelines under the Markets in Crypto-Assets (MiCA) regulatory framework.

Draft Regulatory Standards for Managing Complaints:

The regulators have published draft regulatory standards focusing on how stablecoin issuers can effectively handle complaints, particularly related to Asset Reference Tokens (ARTs) holders.

Hot Take:

The collaboration between the European financial authorities to strengthen stablecoin regulations reflects a proactive approach to addressing potential challenges in the cryptocurrency space. The focus on managing complaints indicates a growing need for transparency and consumer protection within the stablecoin market.

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