Shorthanded EU Regulator Risks Lagging on Crypto Rules
- ‘Resources is an issue for ESMA generally,’ Chair Ross says
- ESMA won’t make Oct. 31 deadline for Ucits recommendation
Verena Ross
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
The European Union risks falling behind on key efforts to regulate cryptocurrencies because its securities watchdog lacks the resources to evaluate their potential impact on financial markets quickly enough.
The European Securities and Markets Authority won’t make an Oct. 31 deadline for recommending whether a common type of fund should be permitted to hold assets like crypto, Chair Verena Ross said. It also faces a decision on whether to stagger implementation work on a sweeping digital-asset legislation the EU approved last year, she said.