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FTX collapse boosts case for EU crypto regulation

Tuesday, February 28, 2023


The EU’s Markets in Crypto-Assets (MiCA), the first comprehensive set of regulations, aims to reduce the risk of an FTX-type collapse. The final vote is due during the plenary session of the European Parliament on April 17-20.


  • MiCA will be only the first step in the EU’s attempt to regulate crypto-assets and will require updates as new innovations emerge.
  • The EU's crypto regulations will be tracked closely elsewhere, particularly in other G20 countries.
  • The Ukraine war will harden Russia’s willingness to crack down on its large, illicit crypto ecosystem.
  • The lack of a comprehensive US crypto regulatory framework will impede transatlantic supervisory coordination.

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