Plenary Session: Digital Finance: emerging risks in crypto-assets - regulatory and supervisory challenges in the area of financial services, institutions and markets

Digital Finance: emerging risks in crypto-assets - regulatory and supervisory challenges in the area of financial services, institutions and markets (A9-0161/2020 - Ondřej Kovařík)

I voted in favour of this report, in line with the Group of the Greens/EFA, because a robust regulatory framework is needed in the field of cryptocurrencies and in the various digital financial innovations.

It is vital that clear rules are established in the EU, providing legal certainty, reducing regulatory arbitrage, ensuring high standards of consumer protection, financial stability and market integrity.

Some of the Greens' proposals that were accepted in this report include the application of existing financial regulatory standards to crypto assets, strong language about anti-money laundering legislation and the power given to competent authorities to restrict or even prohibit transactions with crypto assets when used for illegal purposes, among others.

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