Just-In: EU Seeks US Help For Crypto Regulations

Ashish Kumar
October 18, 2022
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Jupiter EU Regulation

The global digital assets industry is trading under increased volatility due to the absence of Crypto regulations. Amid the call for clearer crypto related laws European Union (EU) financial services chief has urged the US policymakers to form a conclusion over it.

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Increased need for crypto regulation

As per a report, Mairead McGuinness, the EU financial services chief has issued a warning over the digital assets citing a threat to financial stability. She mentioned that any crypto regulations inflicted on the market would need to be put in the global order.

McGuinness highlighted that they need to see other nations also who are keen to form laws around the crypto market. However, there are several authorities that are trying to catch up with the EU’s implemented crypto regulations. She added that there different players in the market but with the same objective.

The report suggests that the Irish commissioner met US politicians on Capitol Hill. She had a brief conversation about how to regulate the crypto industry. The commissioner sensed that US policymakers are in the same line with the EU. However, European policymakers are more concerned regarding the crypto regulations and market.

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US executives divided over need for new laws

Meanwhile, the US regulator and its officials seem to be divided over the need for clearer crypto regulations. Reports suggest that Hester Peirce, the SEC commissioner has called out the regulators for keeping the non-fungible token (NFT) creators and traders unaware of certain laws.

However, Peirce mentioned that there are certain NFTs that could be regulated like bonds or stocks in the market.

The European Union is globally known for its harsh stance against digital assets. The new set of crypto regulations made by the EU policymakers passed its final stage earlier this month. The set of rules will be controlling the issuance of the stablecoins in order to monitor their environmental impact.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.