Norway should consider a national strategy for crypto regulation, said Norges Bank, the country’s central bank, in a Thursday report.
Countries around the world have been looking at the European Union’s Markets in Crypto Assets (MiCA) regulation, which is close to taking effect. MiCA may apply within the broader European Economic Area, but the central bank does not want to stop there: it believes there is a need to further develop specific crypto regulations, the report said.
The collapse of stablecoin issuer Terra and crypto exchange FTX has also encouraged regulators to speed up efforts to regulate the sector.
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“The Norwegian authorities should assess
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