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According to the latest statements of the European Securities and Markets Authority (ESMA), several cryptocurrencies can receive the status of financial instruments in accordance with the EU directive “O markets for financial instruments” (MiFID).
In this category, assets capable of generating profits, for example, through an ICO, will be qualified and will be regulated like other financial instruments. According to analysts, this can significantly reduce the percentage of fraudulent ICO.
All other non-financial assets should be subject to anti-money laundering laws, commented ESMA.
In turn, the European Banking Authority (EBA) asked the European Commission to analyze the need and ways to develop common rules for the use of digital assets in the European Union. In addition, the EBA requires a commission when analyzing the development of recommendations for the development of financial measures to combat money laundering (FATF), which will be published in June 2019.
Recall that countries that are part of the Eurasian Economic Union Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan also plan to develop a unified approach to the regulation of cryptocurrency and ICO.