FIN.

European Parliament issues draft report on proposed markets in crypto-assets regulation

The European Parliament’s Committee on Economic and Monetary Affairs has issued a draft report containing suggested amendments to the text of a regulation on markets in crypto-assets and amending Directive (EU) 2019/1937 prepared by the European Commission. The suggested changes include:

  • clarifying the definitions of ‘distributed ledger technology, ‘electronic money token’ and ‘utility token’;
  • involving the ECB in the approval of applications for permission to issue new crypto-assets; and
  • aligning the ‘Qualifying Holding’ thresholds for change in control purposes with those which apply under MiFID2 and EMD2.

Duncan Scott