German Crypto Regulator: Common Regulatory Principles Must Be Enforced Globally
On September 19, TuoniaoX.com reported that Rupert Schaefer, Executive Director for Strategy, Policy and Control at Germany's Federal Financial Supervisory Authority (BaFin), emphasized the importance of unified global regulation for the cryptocurrency industry in a blog post on September 18. Schaefer acknowledged that significant progress has been made in cryptocurrency regulation with the EU's adoption of MiCA, recommendations from the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO), and new international regulatory standards from the Basel Committee for cryptocurrency handling.
On September 19, TuoniaoX.com reported that Rupert Schaefer, Executive Director for Strategy, Policy and Control at Germany's Federal Financial Supervisory Authority (BaFin), emphasized the importance of unified global regulation for the cryptocurrency industry in a blog post on September 18. Schaefer acknowledged that significant progress has been made in cryptocurrency regulation with the EU's adoption of MiCA, recommendations from the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO), and new international regulatory standards from the Basel Committee for cryptocurrency handling. However, Schaefer cautioned that inconsistencies exist globally, with exceptions remaining despite the push for global regulation. He stressed that common regulatory principles must now be enforced coherently and consistently on a global scale, and that global rules should also apply to niche financial centers.