Schaefer acknowledged the obvious progress in regulating crypto with MiCA adoption in the EU, the Financial Stability Board’s and the International Association of Securities Commissions’ sets of recommendations, as well as the Basel Committee's new international supervisory standard for treatment of cryptoasset exposures.
However, the official reminded about the inconsistencies existing on a global scale, where there is still a place for exceptions from global regulatory push: “Now the common principles must be implemented consistently and consistently worldwide. There should be no white spots in the flight radar: the global rules should also apply to niche financial centers.”global collaboration on formulating crypto regulationsMeanwhile in Germany, as in a number of other European markets, the crypto and blockchain sector became a