Pakistan announced plans to launch its first government-backed stablecoin as a key step in integrating virtual assets into its national economy. Regulatory Push Pakistan plans to launch its first government-backed stablecoin as part of a strategic effort to integrate virtual assets into the national economy, the country’s top regulator announced on Dec. 6. Bilal Bin […]
Source: https://news.bitcoin.com/pvara-chief-pakistan-to-roll-out-stablecoin-advance-cbdc-plans/
Legal experts are concerned that transforming ESMA into the “European SEC” may hinder the licensing of crypto and fintech in the region. The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.Read more
