What is the regulation on crypto-assets?
This Regulation applies to persons that are engaged in the issuance of crypto-assets or provide services related to crypto-assets in the Union. 2. However, this Regulation does not apply to crypto-assets that qualify as: (a) financial instruments as defined in Article 4 (1), point (15), of Directive 2014/65/EU;
What are the regulatory requirements for crypto exchanges?
Crypto exchanges in the United States fall under the regulatory scope of the Bank Secrecy Act (BSA) and must register with the Financial Crimes Enforcement Network (FinCEN). They are also required to comply with anti-money laundering (AML) and combating the financing of terrorism (CFT) obligations.
Are crypto assets covered by the EU’s financial services legislation?
These reports were based on the mandate given to them under the Commission’s FinTech action plan, published in March 2018. Both the EBA and ESMA argues that while some crypto-assets could fall within the scope of EU financial services legislation, most of them, do not.