The ESMA reminded investment firms that crypto would remain unregulated in most jurisdictions despite upcoming regulations.
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The European Union’s financial watchdog has issued a statement reminding investment firms to make sure their clients are aware of the regulatory status of the products they are offering.
In an announcement, the European Securities and Markets Authority (ESMA) highlighted crypto assets and reminded companies that while regulation is on the way, crypto will remain unregulated in most jurisdictions. The ESMA stated:
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“Specifically on crypto assets, while the Markets in Crypto-Assets Regulation (MiCA) is close to adoption, crypto assets offered by investment firms will continue to be unregulated in most jurisdictions until MiCA applies.”
The ESMA expressed concerns over unregulated products and services offerings. According to the
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