European Union to cryptocurrencies It adopted a set of rules on the subject that will come into force in 2025.
Cryptocurrency Although there is a longer period for the implementation of the rules governing José Manuel Campa, President of the European Banking Authority (EBA) He said he was worried about how these rules would be enforced.
Speaking to the Financial Times, Campa said the European Banking Authority is in a key role tasked with overseeing the EU’s approved rules for the regulation of cryptocurrencies. crypto- He said that he sees the issue of finding expert personnel to implement the rules as a major concern.
“I don’t think the agency has the capacity to audit digital assets yet.
My biggest concern in this regard is to recruit and retain the required specialist staff as cryptocurrencies are in high demand.
Also, these crypto rules will go into effect in 2025, but within three years, crypto may have moved and transformed into other uses that I couldn’t predict.”
Another concern, Campa said, was the agency’s failure to properly implement its plans to implement its new powers.
“Because the agency won’t know which cryptocurrencies it will audit until 2025. If we do not do what we have to do in these uncertainties, we will have to suffer the consequences.”
As is known, the EU to stablecoins focused on providing legal certainty for the crypto industry and will be implemented in all 27 member states. Crypto Assets Market (MiCA) had adopted the legislation.