EU Lawmakers Urge Common Crypto-Supervision For Fintech

Law360, London (September 14, 2020, 11:52 AM BST) — A European parliamentary committee has called for a common monitoring and supervision framework for crypto-assets to be included in in the European Union’s plan for the financial technology sector.

Members of the economic and monetary affairs committee want to see a common European model with a crucial role for the European Supervisory Authorities, known as ESAs, according to a statement from Parliament.

The MEPs focused on crypto-assets in their recommendation to the commission and pointed to financial crime.

“They point to regulatory gaps in the EU legislation, such as that concerning anti-money laundering and advise targeted changes to the existing provisions,”…