What can the US SEC and PBoC learn from the EU ESMA regarding the regulation of cryptocurrencies?

Colleagues, while the US SEC has an ongoing debate whether crypto assets are securities or commodities, the European Securities and Markets Authority’s (ESMA) central focus is on the “transferability” of the asset. Transferable assets may fall under the jurisdiction of the ESMA’s existing Markets in Financial Instruments Directive II.  Herein we have two of the world’s three geo-economic regions with different approaches to the potential regulation of digital assets. Which leads us to East Asia – Japan, South Korea and China – which have be the vanguard of cryptocurrency adoption (ICOs, exchanges and mining). The PBoC definitely anticipates a sovereign bank-sponsored cryptocurrency in its future, however, has major reservations about the impact of digital assets in general on the price of the yuan. The Cryptocurrency Academy predicts that the world’s three geo-economic regions will resolve the regulatory ambiguity over the next 24-26 months. The fundamental question remains: Will the EU, US and East Asia arrive at similar or conflicting regulation frameworks? We will continue to scrutinize and report on regulatory developments affecting crypocurrency adoption. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)