According to the Belgian financial markets regulator, some cryptocurrencies can be considered securities.
Officials from the European Union continue to work on the MiCA bill, which will bring comprehensive regulations to the cryptocurrency market.
According to the Belgian Financial Markets and Services Authority (FSMA), while these studies continue, cryptocurrencies in which cases It should also be determined whether it will be considered as a security.
In the statement made by the FSMA today, the following statements were included:
“While we wait for a common framework to be established across Europe, as FSMA, we would like to clarify in which cases cryptocurrencies will be counted as securities, investment vehicles or financial instruments, and therefore, in which cases a prospectus will be required.”
Belgian authorities, limited in supply having or tradable in anticipation of gain thinks that some cryptocurrencies may count as securities, thus requiring a prospectus.
With the MiCA to be implemented across Europe, cryptocurrency issuers will be required to publish white papers to inform investors. Until this is implemented, it will be decided at the local level whether a cryptocurrency has similar controls to stocks or bonds.