EU's top cryptocurrency regulator releases 2018 regulatory agenda

Rage Review : On February 7, the European Securities and Markets Authority (ESMA) released its latest regulatory agenda, which outlined the five areas that the agency will focus on next year, including cryptocurrency and blockchain technology. This is the first time that the regulator has included cryptocurrency in its regulatory agenda, which shows that the regulator is gradually strengthening its review of the development of cryptocurrency and blockchain technology in Europe. The central banks of EU member states have also stated that they will follow ESMA's footsteps and focus on financial innovation issues in areas such as ICO and cryptocurrency.

Translation: Clover

The European Union’s top securities regulator has said cryptocurrencies will be one of its top priorities in 2018.

The European Securities and Markets Authority (ESMA) has outlined five main areas on which it will focus next year in its latest supervisory agenda published on February 7.

One of the tasks for 2018 is to monitor the development of financial innovations, which, as the agency specifically points out, include cryptocurrencies and blockchain technology.

The agency said:

“ESMA expects that the rapid pace of financial innovation in European securities markets will continue in 2018. These developments will impact the way securities are developed, traded and regulated. In turn, ESMA is undertaking a substantive analysis of the emergence of virtual currencies, platforms such as ICOs and instruments such as distributed ledger technologies.”

It is worth noting that this is the first time that the regulator has included cryptocurrency in its regulatory agenda, which shows that the regulator is gradually increasing its scrutiny of the development of cryptocurrency and blockchain technology in Europe.

Just last month, the agency announced it was seeking public comment on potential regulatory changes surrounding cryptocurrency derivatives contracts.

In addition, according to recent reports, the central banks of EU member states (collectively referred to as national competent authorities, or NCAs) will also follow ESMA's efforts in 2018 and focus on financial innovation issues in areas such as ICOs and cryptocurrencies.