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ESMA to introduce crypto currency regulations

Discussion in 'Crypto Currency News' started by Eliza Abrams, Jan 14, 2020 at 8:16 AM.

  1. Eliza Abrams

    Eliza Abrams Scholar

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    The European Securities and Markets Authority (ESMA) announced that it is planning to regulate the cryptocurrency markets in the European Union due to concerns about data security.

    According to ESMA’s plans for the 2020 – 2022 period ESMA will “require EU market participants to acknowledge the risks that may stem from digitalization by ensuring business continuity and the use of adequate and up-to-date technology, as well as adequate protection against cyber threats, and through proper data protection and data quality management”.

    I think this may turn out to be a positive thing. Regulation does not mean an outright ban, on the contrary, it is a framework that allows more people to have access to cryptocurrencies, so I think this may increase their popularity.

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