ESMA Chair, Verena Ross, today delivered the keynote speech “Keeping on track in an evolving digital world” at the Afore 6th Annual FinTech and Regulation Conference. She talked about new influences and expectations, digital innovation, data, and what is ESMA doing.
Verena Ross: “We want to make sure that investors are empowered to make informed choices and have access to innovations that bring them tangible benefits. Where we identify new risks that are not addressed within the current regulatory and supervisory framework, ESMA and national authorities will need to take firm action.”
Ross on the Markets in Crypto-Assets regulation (MiCA): “We, at ESMA, would like to see the right EU regulatory framework come into being as soon as possible, through the finalisation of the legislative process around MiCA. So far, only some national supervisors can rely on a domestic legislative regime for crypto assets, but most cannot. This does not offer the common EU approach to the risks that we see at the moment.”
She continued: “Until MiCA is agreed and in force, we are working actively with the national supervisors to ensure information exchange about scams and frauds, learning from each others’ experiences when it comes to authorising and supervising new crypto asset products and services and finding common ways to address the risks across the EU.”
The Afore 6th Annual FinTech and Regulation Conference 2022 gathered senior policymakers and industry who discussed key aspects of FinTech regulation.
This news item was originally published by the European Securities and Markets Authority (ESMA). For more information, please see the Source Link.