Law360, London (September 24, 2020, 9:35 PM BST) — The European Union’s executive arm on Thursday adopted legislative proposals on crypto-assets and a new digital finance package, which it said will give people more protection and opportunities in modern payments.
The European Commission proposed for the first time new legislation on crypto-assets that it said will give legal clarity to issuers and providers. Under the so-called Regulation on Markets in Crypto Assets, or MiCA, investors will be protected from risks, and innovation would also be enhanced, it added.
The commission describes crypto-assets as a “digital representation of values or rights that can be stored and traded electronically.” Examples of crypto-assets…
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