Regulators Across the Ocean Discuss Stablecoins and MiCa at Joint Forum

Representatives of major regulators from both sides of the Atlantic met to exchange experiences.

It's not every week that regulators from both sides of the Atlantic Ocean get together to discuss cryptocurrencies. But that's what happened last week, with counterparts from the European Union and the United States sharing their thoughts on stablecoins, central bank digital currencies (CBDCs) and the proposal in the markets. crypto assets (MiCA).

Representatives of the European Commission, European Banking Authority (EBA), European Securities and Markets Authority (ESMA) and several other EU-level bodies met with Treasury Department officials of the United States, Commodity Futures Trading Commission (CFTC), Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC) and other American colleagues to discuss the regulatory routine.

The meeting took place on July 13-14 in an EU-US format. Joint Financial Regulatory Forum. Digital finance has become just one of six key topics, alongside sustainable finance and climate-related financial risks, regulatory developments in banking and insurance, anti-money laundering money and terrorist financing (AML/CFT) and other immediate issues.

Two parties discussed recent developments regarding stablecoins, and the EU delegation informed its US counterparts of the provisional agreement reached on the MiCA regulation. The United States, in turn, gave an overview of their work on crypto assets, including stablecoins.

As the official report mentions, without any specification, the exchange also “provided an update on discussions around the development of potential central bank digital currencies (CBDCs)”.

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