{"id":26291,"date":"2022-10-18T16:19:41","date_gmt":"2022-10-18T10:49:41","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=26291"},"modified":"2022-10-18T16:19:41","modified_gmt":"2022-10-18T10:49:41","slug":"eu-urges-us-to-draft-global-crypto-regulations","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/eu-urges-us-to-draft-global-crypto-regulations\/","title":{"rendered":"EU urges US to draft global crypto regulations"},"content":{"rendered":"

The European Commission\u2019s financial services chief Mairead McGuinness has requested<\/a> the US authorities to provide a clearer framework for global crypto regulations. Ms.McGuinness held talks with some senior US politicians on a recent trip to Washington, DC.<\/p>\n

McGuinness urged the US authorities to provide legal clarity around crypto, cautioning that digital assets may potentially threaten financial stability if left to grow unchecked. The commissioner added that the regulatory framework around crypto needs to be global and not region-specific given the borderless nature of the industry.<\/p>\n

She said, \u201cWe do need to see other players also legislating,\u201d highlighting the fact that there are countries which are already following EU\u2019s lead on crypto regulation, and \u201cperhaps differently, but with the same objective\u2009.\u2009.\u2009. We need to look at global regulation of crypto.\u201d<\/p>\n

Following her request, McGuinness stated that the US authorities are \u201cmoving in the same direction\u201d as the EU regarding crypto regulations. She noted that \u201cthere\u2019s a lot of concern at a European level as to [what would happen] if crypto were not to be regulated.\u201d In light of this, she added that \u201cthere could be \u2014 in time, if it grows \u2014 financial stability problems. There are also investor issues around the lack of certainty.\u201d<\/p>\n

Earlier this month, the EU updated its crypto laws, dubbed the Markets in Crypto Assets Regulation (MiCA). MiCA requires crypto businesses to provide services only after duly registering with authorities to ensure consumer protection and financial stability.<\/p>\n

CoinSwitch reported<\/a> that EU\u2019s updated law also prohibits Russian account holders from accessing their crypto asset wallets, accounts, or custody services, irrespective of the amount of the wallet. This came as a part of the series of sanctions against Russia that were imposed on the country earlier this year following its invasion of Ukraine.<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Commission\u2019s financial services chief Mairead McGuinness has requested the US authorities to provide a clearer framework for global crypto regulations. Ms.McGuinness held talks with some senior US politicians on a recent trip to Washington, DC. McGuinness urged the US authorities to provide legal clarity around crypto, cautioning that digital assets may potentially threaten […]<\/p>\n","protected":false},"author":97,"featured_media":26292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,8723,6536],"class_list":["post-26291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-eu","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Palak Malhotra\",\"description\":\"\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/palak\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8a4eb1eaba29a875ba204825d6530ed2?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer","key_takeways":false},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/97"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=26291"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26291\/revisions"}],"predecessor-version":[{"id":26297,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26291\/revisions\/26297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/26292"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=26291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=26291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=26291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}