The writer is chief executive of the Centre for European Policy Studies in Brussels
As the crypto world goes through yet another bout of turmoil, it is clear that stronger regulatory oversight of digital assets is needed.
The EU will soon roll out a specific regulatory framework for cryptocurrencies and markets. The move comes as digital assets are plunging and a crisis has engulfed some of the world’s biggest “stablecoins”.
Cryptocurrencies have become popular despite the fact that there is very limited or no oversight of them. Whether they are Ponzi schemes, money-laundering shells or stablecoins pegged to real-world assets, it is difficult for ordinary investors or users to know which is which. Where they are based, how they are organised and who is backing them is often an enigma. This is a cause of concern.
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