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ARTICLE · 10 JANUARY 2020

EU And NY Consider New Crypto Regulations, AML Report Published And Tools Debut

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Last week the European Council and the Commission adopted a statement regarding stablecoins. According to the statement, the lack of legal clarity regarding stablecoins

United StatesTechnology
Simone O. Otenaike
Simone O. Otenaike
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Last week the European Council and the Commission adopted a statement regarding stablecoins. According to the statement, the lack of legal clarity regarding stablecoins makes it difficult to determine whether and how the existing EU regulatory framework applies. The Council and the Commission also noted that stablecoin arrangements cannot launch in the European Union until regulatory and oversight frameworks are developed. Meanwhile, the New York State Department of Financial Services (DFS) announced plans to review and update their virtual currency regulations, which were issued back in 2015. DFS is seeking comments from the public regarding two proposed coin adoption or listing options that the agency reportedly plans to make available to current DFS license holders.

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