The FMLC has also drawn attention to the possible overlap of the new regime for stablecoins with the existing regime under the E-Money Regulations.
The FMLC has submitted a response to the Consultation to draw attention to concerns with regards the definition of a “qualifying cryptoasset”.
The FMLC has drafted a response to the Consultation in the form of two complementary reports. Part I comprises comments on the classification of cryptoassets. Part II comprises comments in response to the section of the Consultation dealing with cryptoassets which fall within the E.U. regulatory perimeter.
Directive (EU) 2018/843 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the “Fifth Anti-Money Laundering Directive” or “5MLD”) expands […]