On 16 November 2023, the International Organization of Securities Commissions (IOSCO) published a final report containing policy recommendations for the regulation of crypto and digital assets. The recommendations are principles-based and outcomes-focused and are aimed at the activities performed by crypto-asset service providers (CASPs). In line with IOSCO’s established approach for
On 16 November 2023, the International Organization of Securities Commissions (IOSCO) published a final report containing policy recommendations for the regulation of crypto and digital assets. The recommendations are principles-based and outcomes-focused and are aimed at the activities performed by crypto-asset service providers (CASPs). In line with IOSCO’s established approach for
On 5 October 2023, the European Securities and Markets Authority (ESMA) published its second consultation paper on technical standards under the Regulation on Markets in Crypto-Assets (MiCA). Consultation on the first package concluded in September 2023 (please see our earlier blog for additional background).
This second consultation package covers six draft
On 29 September 2023, the European Banking Authority (EBA) published Technical Advice on two delegated acts that the European Commission (Commission) is mandated to develop under the Regulation on Markets in Crypto-Assets (MiCA). These include a delegated act on the most relevant indicators in relation to specific criteria for determining
On 25 September 2023, the Council of the European Union (Council) Working Group on Financial Services held a discussion on the European Commission (Commission) proposal on the establishment of a digital euro.
Since 2021, the Commission and the European Central Bank (ECB) have been preparing the establishment of the
On 24 March 2022, the Bank of England (BoE) published a paper containing a summary of responses it received to its earlier Discussion Paper on new forms of digital money such as, systemic stablecoins and a UK Central Bank Digital Currency (CBDC).
The BoE report that the responses to the Discussion Paper found that:
On 13 January 2022, the House of Lords’ Economic Affairs Committee (Committee) published a report ‘Central bank digital currencies: a solution in search of a problem?’. The report states that their Lordships have yet to hear a convincing case for why the UK needs a retail central bank digital currency (CBDC). The Committee
On 14 December 2021, the ISDA published a paper ‘Contractual Standards for Digital Asset Derivatives’.
The paper:
On 23 November 2021, the Council of the EU announced that it had adopted its position on two important components of the digital finance package – the ‘Regulation on Markets in Crypto Assets’ (MiCA) and the ‘Digital Operational Resilience Act’ (DORA).
The purpose of MiCA is to create a regulatory framework
On 9 November 2021, the Bank of England (BoE) issued a statement concerning the next steps on the exploration of a UK Central Bank Digital Currency (UK CBDC).
The statement provides that: