EU Parliament research recommends non-EU nations tighten crypto ...



The European Parliamentary Research Service (EPRS) highlighted the need for tighter oversight from non-European Union (EU) regulators to ensure greater stability and development in the global cryptocurrency market.


MiCA implementation timeline. Source: esma.europa.euAs the Markets in Crypto-Assets Regulation (MiCA) Act prepares to be implemented by December 2024, an EPRS report — authored by Issam Hallak with Rasmus Salén, Members' Research Service — cited the need for establishing a tighter regulatory framework in non-EU jurisdictions: “There are yet several channels through which the EU's financial system and autonomy is still at risk as it remains dependent on non-EU countries' policy actions in the context where the MiCA is applicable.


”Potential implications around financial stability, lower market appeal and mainstream use of stablecoins were the main concerns highlighted by the report author.Overview of crypto-asset regulations in EU, the UK and the US.


According to the report, the United States has a fragmented regulatory landscape, which involves a variety of state-level and federal stakeholders — indirectly impacting legal clarity and regulatory certainty. Global stablecoin regulation overview. 


The report also highlighted the United Kingdom’s (UK) Financial Services and Markets Act (FSMA) and a study conducted for the European Parliament, which expects a significant divergence “over the coming years between the UK and the EU in terms of how crypto-assets are identified.” 


On Sept 18, The Malta Financial Services Authority (MFSA) began a public consultation over changes in its crypto regulations to better align with the upcoming MiCA regulations.


As Cointelegraph prevoiusly reported, the revised rulebook proposes changes to the rules for exchanges, custodians and portfolio managers in order to align with the European Union’s MiCA.


Source : Cointelegraph / September 22, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.