BaFin’s Dr. Thorsten Pötzsch, Executive Director of Securities Supervision / Asset Management, discussed EU digital regulations in a speech today at the BVI Fund Operations Conference. Dr. Pötzsch said that legislation is necessary to create a safe jurisdiction for capital market players, and the crypto-asset regulation MiCA falls into that category. However, he called for “speed, clear rules and a minimum of bureaucracy.”
Apart from the main MiCA regulations, he highlighted the requirement of an additional 57 guidelines or legal rules on specific topics. “Despite all the understanding for quickly adapting regulations in fast-moving markets, I ask myself: Is this amount of rules really effective?” said Dr. Pötzsch.
“Couldn’t it really be simpler, more pragmatic?”
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