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Top Cryptocurrency News: Regulators from the EU and US discuss stablecoins and MiCa at a joint forum: Report

21-Jul-2022 By: Rohit Tripathi
Top Cryptocurrency N

It is not every week that authorities from both sides of the Atlantic meet to talk regarding cryptocurrencies. But that's exactly what happened last week, when European Union and US counterparts discussed stablecoins, central bank digital currencies (CBDC), and the Markets in Crypto Assets (MiCA) proposal.

Representatives from the European Commission, the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), and other EU-level bodies met with officials from the US Department of the Treasury, the Commodity Futures Trading Commission (CFTC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC), and other American colleagues to discuss the regulatory routine.

The meeting was held on July 13-14 as part of the EU-US Joint Financial Regulatory Forum. Digital finance was only one of six important topics discussed, along with sustainable finance and climate-related financial risks, regulatory advances in banking and insurance, anti-money laundering and counter-terrorism financing (AML/CFT), and other pressing challenges.

The two sides reviewed recent developments in the stablecoin space, and the EU delegation provided an update to their US counterparts on the temporary agreement achieved on the MiCA regulation. In response, the United States offered an outline of its work on crypto assets, including stablecoins.

As per the official report , the exchange also took stock of discussions about the development of potential central bank digital currencies (CBDCs).


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