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Top related persons:
stablecoin - 1 Huw Jones - 1 Paul Simao - 1
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EU - 1 Crypto - 1 European Banking Authority - 1 European Securities and Markets Authority - 1 unbacked - 1 Thomson - 1

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☆ EU watchdog calls for early adoption of stablecoin standards
  + stars: | 2023-07-12 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, July 12 (Reuters) - The European Union's banking watchdog urged stablecoin issuers on Wednesday to voluntarily comply with 'guiding principles' on managing risks and protecting consumers ahead of mandatory rules due in a year's time. The European Banking Authority (EBA) published on Wednesday for public consultation its first batch of measures to flesh out MiCAR requirements for issuing a stablecoin that would come into force on June 30, 2024. Separately the EU's European Securities and Markets Authority (ESMA) set out draft rules for so-called crypto asset service providers (CASPs) who trade cryptocurrencies. EBA will issue a second batch of draft rules in October that focus on capital requirements for stablecoin issuers, and how firms should deal with stablecoin redemptions in stressed markets. Reporting by Huw Jones; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
Persons: stablecoin, Huw Jones, Paul Simao Organizations: EU, Crypto, European Banking Authority, European Securities and Markets Authority, unbacked, Thomson Locations: unbacked cryptoassets
☆ Crypto should be regulated as gambling, UK lawmakers say
  + stars: | 2023-05-16 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, May 17 (Reuters) - Bitcoin , ether and other cryptocurrencies should be regulated as gambling given they are potentially used by fraudsters and pose significant risks to consumers, a panel of UK lawmakers said in a report on Wednesday. Britain is planning its first rules for cryptoassets, which currently only comply with anti-money laundering safeguards. Around 10% of UK adults hold or have held cryptoassets, according to official figures. The European Union approved the world's first set of comprehensive rules for crypto markets on Tuesday. The underlying technology used by cryptoassets has the potential to improve efficiency in payments, the report said.
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