Regulators had gathered, from not just one but both sides of the Atlantic Ocean. They had come together in order to have a discussion on cryptocurrencies. Last week, representatives from the European Union as well as the United States spoke openly regarding their opinions on stablecoins. They also spoke about CBDCs, or central bank digital currencies, as well as the MICA proposal.
Discussing MICA and Stablecoins
Some of the bodies that represented the European Union included the European Banking Authority as well as ESMA. Representing the US were the Department of Treasury of the country, the CFTC, the SEC, and more. This meeting was held between July 13th and 14th in the form of a joint forum on financial regulations.
Six important topics were discussed, of which digital currency was one such topic. Other topics that were discussed included sustainable finance, as well as financial risks that could be related to the government. Developments in regulation when it came to the insurance and banking sectors were also discussed. Other topics covered included anti-laundering of money as well as how to counter terrorists getting financing.
Representatives from the EU and the US both discussed what the recent developments across the world were, when it came to stablecoins. The delegation from the EU also provided updates to the US delegation, regarding the provisional agreement that had been reached when it came to the MICA regulation. The representatives also took notice of developments made when it came to the potential of CBDCs.