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By Andrew TANG, CFA, Initio, Square Management*
The European Supervisory Authorities (ESA)(1) observe a rising consumer activity and interests in crypto-assets(2), despite the limited oversight of them. From a recent ECB survey(3), it is estimated that 10% of the Belgian households may own crypto-assets. However, dealing in crypto-assets is not without risks. The European Union (EU) is taking steps in setting regulatory standards for digital assets, which would bring more harmonization and clarity in responsibilities in the Union.
Regulatory challenge
After the AMLD5(4) implementation in May 2020, each EU Member State had created its own regulatory framework for crypto-asset transactions, which resulted in...
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