Crypto Industry Asks for Regulatory Clarity

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Crypto asset market participants said regulators are looking more positively at the new sector but more clarity is needed for mainstream adoption.

There are signs of progress in regulation such as President Biden’s Executive Order on March 9 on the responsible development of digital assets and the passage of MiCA, the European Union’s Markets in Crypto-Asset regulation. The UK Financial Conduct Authority is due to soon publish guidelines on stablecoins, although the UK regulator is still declining to register many crypto firms because of anti-money laundering concerns.

Kathy Kraninge, vice president of regulatory affairs at Solidus Labs, which provides automated market surveillance and risk monitoring for digital assets, said there has been a massive increase in regulators moving in a positive direction. Kraninge spoke on a panel at the CryptoCompare…

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