United

USDC

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/21shares-advocates-for-a-robust-regulatory-framework-in-the-eu/" data-wpel-link="internal" rel="noopener noreferrer nofollow">21Shares Advocates for a Robust Regulatory Framework in the EU</a><br></p>
<p style="text-align: justify">21Shares, a leading exchange-traded product (ETP) issuer focused on cryptocurrencies, seeks a comprehensive regulatory framework from European Union authorities. As one of the largest crypto fund issuers in the region, 21Shares is a key player in discussions regarding regulatory measures.</p>
<h2 id="regulatory-inconsistencies">Regulatory Inconsistencies</h2>
<p style="text-align: justify">21Shares expresses concerns about the existing legal inconsistencies among EU member states. While some UCITS funds are permitted to hold crypto assets, others face strict prohibitions on such transactions.</p>
<p style="text-align: justify">Recent regulations, implemented after extensive work, have led to several cryptocurrencies, including <a href="https://en.coin-turk.com/britannia-financial-could-face-lawsuit-over-alleged-undeclared-income-related-to-tether/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a>, halting their services due to a lack of electronic money licenses in the region. <a href="https://en.coin-turk.com/ftx-secures-significant-victory-in-irs-dispute/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase</a> announced that by the end of the year, it would only offer licensed stablecoins like PYUSD and USDC to residents.</p>
<h2 id="expectation-for-clear-guidance-from-esma">Expectation for Clear Guidance from ESMA</h2>
<p style="text-align: justify">The company proposes that the European Securities and Markets Authority (ESMA) establish clear guidelines applicable to all EU entities. This move is expected to enhance investor protection.</p>
<p style="text-align: justify">21Shares emphasizes that if European markets align with those of Hong Kong and the United States, several crypto ETPs could be approved. Mandy Chiu, Head of Financial Product Development at 21Shares, highlights the significance of a consistent regulatory stance for Europe to lead in financial innovation.</p>
<p style="text-align: justify">Such regulations could promote market stability and investor protection while fostering further growth and development in the crypto asset sector.</p>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">21Shares’ request is seen as a significant step toward broader acceptance of crypto ETPs within the EU and enhancing investor protection. Clear regulations could stabilize the <a href="https://en.coin-turk.com/bankrupt-crypto-exchange-ftx-receives-court-approval-to-sell-ai-firm-shares/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> and enable the development of innovative financial products.</p>
<p>The post <a href="https://en.coin-turk.com/21shares-advocates-for-a-robust-regulatory-framework-in-the-eu/" data-wpel-link="internal" rel="noopener noreferrer nofollow">21Shares Advocates for a Robust Regulatory Framework in the EU</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

21Shares Advocates for a Robust Regulatory Framework in the EU

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