The EU parliament published a crypto report highlighting the current status of crypto regulation worldwide and its importance for all countries.
The research wing of the European Parliament has released a new crypto report. The report shared details of crypto regulation worldwide and advocated for its progress. The European Parliamentary Research Service (EPRS) also mentioned the need for non-EU regulators to go ahead with crypto regulations. It could lead to better stability in the crypto market, said the EPRS.
The report started with the importance of the MiCA regulation in the European Union. It further mentioned the status of crypto regulation in the US and the UK. Meanwhile, the crypto report also portrayed a table with details of stablecoin regulation around the world.
“The second effect of uneven regulatory approaches of crypto-assets is that issuers will take decisions to issue and trade in jurisdictions according to their regulatory regime. They may opt for a more lenient regulatory environment or become more active in environments where the investor/customer base is broader thanks to more protective regulatory standards and supervision,” said the report.
The above has been true for crypto firms, which have set shop in crypto-friendly regions while avoiding strict jurisdictions. The report specifically stressed how positive crypto regulation could also lead to gains for the crypto market. It also cited studies that have indicated other outcomes of crypto regulation.
The overall insights from the crypto report could lead one to witness the varying degrees of crypto laws across different regions. If a common consensus could be achieved globally, crypto firms, investors, and the markets could see several advantages.