ESMA Won’t Ban Blockchain and Considers Regulation Premature
Just recently Bitcoin.com reported on the European Securities and Markets Authority (ESMA) Senior Risk Analysis Officer, Patrick Armstrong’s opinion to ban blockchain platforms. However, on February 7 the ESMA has released a report stating that regulating the technology at this early stage is “premature.” ESMA Says Regulating Blockchain Would Be....
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Europe's chief securities regulator said today that new regulations for blockchain would be "premature" at this stage. The European Securities and Markets Authority (ESMA) published a new report this morning, outlining the results of its year-and-a-half-long research process into the tech. The agency first began soliciting comments about possible new rules in April 2015, releasing its preliminary research outcomes in June. While leaving the door open to future regulations – pending broader adoption by the market it regulates – ESMA said that, for now, it’s sticking with a....
Distributed ledger technology (DLT) and blockchains have caught the attention of many sectors, particularly the finance industry, due to their potential to improve monetary processes and reduce costs. And yet, while an increasing number of industries are undertaking various experiments to understand the benefits that DLT can provide, a new report from the European Securities and Markets Authority (ESMA) has warned that new regulations for blockchain technology would be “premature” at this stage of its development. This new report comes after ESMA issued a discussion paper titled “The....
The European Securities and Markets Authority (ESMA) will soon have the power to ban blockchain or distributed ledger technology (DLT), come January 1, 2018. Speaking at a London conference called “Blockchain Technology: The Future for Financial Services”, last week, senior ‘risk analysis’ officer Patrick Armstrong spoke [PDF] about the challenges and opportunities with blockchain technology. Armstrong is a part of the Innovation and Products team at ESMA, the Paris-based EU financial regulatory authority that establishes legislation and regulation for European financial markets. The....
France has proposed giving more power to the Paris-based European Securities and Markets Authority (ESMA) and making it responsible for cryptocurrency oversight. French regulators say cryptocurrencies need EU-wide regulation. EU-Wide Crypto Regulation With ESMA as Main Supervisor France proposed Tuesday that the EU governments give the responsibility of regulating cryptocurrencies to the pan-European markets watchdog, the Paris-based European Securities and Markets Authority (ESMA), instead of national regulators, the Financial Times reported. The French markets regulator, Autorité....
The European Union financial regulatory agency, European Securities and Markets Authority (ESMA), has predicted that an increased use of distributed ledgers — including the blockchain — could improve the verification of clearinghouse and other transactions. ESMA Experiments with the Blockchain. ESMA launched a consultation team to investigate the matter....