Hot StoriesECB issues 3 reports to pass the biggest crypto law in Europe

ECB issues 3 reports to pass the biggest crypto law in Europe

So Europe is looking to push for crypto law & regulation. What we want is you know well thought regulations not draconian laws right. That’s going to stifle innovation but I think the governments are trying to wake up to this and trying to find a balance.

I know a lot of the people in the crypto industry have been lobbying globally with these big governments to make sure they don’t once again put regulations in place that kill innovation. But certainly, you want to protect users want to make sure criminals are not using it for bad activities, and so forth.

We’ll see what they come up with you know as they make the push for crypto law and regulations. The united states need to move as well.  A lot of regulations are going to be focused on stablecoin. Because I’ve said it many times given what happened with tara luna. To make sure these stablecoins have the reserves and also look they’re going to put guard rails around these stablecoins. 

Because these central banks are going to launch their CBDCs. You just look at it stablecoin will compete with the CBDCs. I’m sure the governments don’t want any stable coins to outperform their CBDCs. So in a near future, we’ll see stable coins will be able to exist.

Read: ECB expressed the need to regulate crypto staking and lending

They have to report their reserves and be um you know in some straight-up reporting to the government every month or whatever it is. They are only may be able to operate in certain aspects of the economy, not anything that will compete with CBDCs.

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