Council of the European Union Agrees on Two Recommendations Regarding Cryptocurrencies

The Council of the European Union has agreed on two proposals to protect investors and support innovation in the cryptocurrency market.

Recommendations approved by the Council, according to a statement Wednesday Regulation of Crypto Asset Markets (MiCA) with From the Digital Operational Resilience Act (DORA) is formed.

MiCA presented in September 2020; will be taken as a basis during the issuance of crypto assets and the opening of the transaction transparency principles, consumers who buy, sell and store them for the protection rules to be followed and the market abuse of It details the measures to be taken to prevent it.

DORA, on the other hand, is the information system used by financial institutions. risk management mechanism, notification process, endurance tests and external risks measures reveals.

With these proposals prepared within the scope of the digital finance package, for cryptocurrencies across the European Union from member country to member country than changing standards a holistic legal framework creation, thereby ensuring the safety of investors and supporting innovation is aimed.

The Council will begin to discuss with the European Parliament the proposals that it has reached an agreement with. The proposals in question will be accepted by both institutions if there is an agreement between the parties.

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