The European Securities and Markets Authority (ESMA) has just unveiled its second consultation regarding the regulation of markets in crypto-assets (MiCA). Since MiCA came into force this June, ESMA has been empowered to establish technical standards and guidelines for specific MiCA provisions.
Against the backdrop of the recent market turmoil, the Financial Stability Board (FSB) has published a statement on the international regulation and supervision of crypto-asset activities.
The US Financial Accounting Standards Board (FASB) has released its 2021 Agenda Consultation Report.
In addition to their expression of support for the work of the International Sustainability Standards Board – discussed here – the G7 Finance Ministers and Central Bank Governors have also strongly urged greater regulation of crypto assets, including enhanced disclosures.
We were interested to note that the US Securities and Exchange Commission (SEC) has “nearly doubled” the size of its Crypto Assets and Cyber Unit (formerly simply the Cyber Unit), part of its Division of Enforcement.
The Organisation for Economic Co-operation and Development (OECD) has released a public consultation document on its proposals to modernise the transparency instruments available to tax administrations, given the ways technology is changing investment and payment practices.
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