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EU cryptocurrency, financial cloud computing regulations proposed by commission

( December 19, 2019, 14:29 GMT | Official Statement) -- MLex Summary: Financial crypto assets could be regulated by extending EU laws on stock-market trading, issuer information and securities depositaries, the European Commission has said in an impact assessment. Large-scale virtual currency offerings could endanger financial stability and monetary policy, the document said, in a nod to Facebook's proposal to launch its own currency, Libra. Legal changes could also be needed to ensure regulators can directly scrutinize the resilience of Google or IBM when they provide outsourced cloud-computing services for banks, an assessment for a separate piece of legislation said.Documents attached. ...

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