The president of Germany‘s financial market regulator BaFin, Mark Branson, stated that a hands-off attitude that would “simply let the business expand as a playground for grownups” was the incorrect strategy.
Hours earlier, US authorities accused Sam Bankman-Fried, creator of cryptocurrency exchange FTX, of misappropriating billions of dollars and breaching campaign rules in what has been described as potentially one of America’s greatest financial frauds.
According to Branson, a “crypto spring” may follow what has been a “crypto winter,” but the industry that emerges will likely have more ties to regular banking, raising the need for regulation.
The industry’s regulation has been patchy and haphazard. Germany requires permits for banks to deal with bitcoin.
The European Union has been working on a new Markets in Crypto Assets Regulation (MiCA), which some, like European Central Bank President Christine Lagarde, believe may need to be enlarged and renamed “MiCA 2” in a future iteration.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
Coincu News
Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…
George Town, Grand Cayman, 22nd November 2024, Chainwire
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…
Discover the success story of a New York tech entrepreneur who made $72M from a…
This website uses cookies.