European Central Bank addresses guidance on licensing of digital assets
2022.08.18 08:42
European Central Bank addresses guidance on licensing of digital assets
The European Central Bank, or ECB, laid the foundation for the criteria it would be considering when harmonizing the licensing requirements for crypto in Europe.
In a Wednesday statement, the ECB’s banking supervision division said it would be taking steps to regulate digital assets given “national frameworks governing crypto-assets diverge quite extensively” and seemingly differing approaches to harmonization following the passage of the Markets in Crypto-Assets, or MiCA, and the Basel Committee on Banking Supervision issuing guidelines for banks’ exposure to crypto. The ECB said it would apply criteria from the Capital Requirements Directive — in effect since 2013 — to assess licensing requests for crypto-related activities and services.
