- The European Securities and Markets Authority (ESMA) has initiated a significant inquiry process that could alter the fate of cryptocurrencies.
- ESMA recently posed a question to stakeholders about whether to include cryptocurrency assets in investment products.
- Regulatory expert Sean Tuffy stated that if ESMA is convinced, it could play a transformative role in the destiny of the cryptocurrency market.
ESMA’s inquiry into the inclusion of cryptocurrencies in investment products could potentially change the landscape of the cryptocurrency market in Europe.
ESMA’s Inquiry into Cryptocurrency Inclusion
The European Securities and Markets Authority (ESMA) has embarked on a significant inquiry that could potentially change the fate of cryptocurrencies. In a recent statement, ESMA posed a question to stakeholders about whether to include cryptocurrency assets in investment products. This inquiry specifically targets Spot Bitcoin and Ethereum funds, and ESMA has started researching the necessary steps if European-based companies and organizations decide to add such products to their portfolios.
Implications for the Cryptocurrency Market
If ESMA is convinced to include cryptocurrencies in investment products, it could play a transformative role in the destiny of the cryptocurrency market. The investment fund framework targeted by ESMA covers a market worth 12 trillion Euros. Regulatory expert Sean Tuffy stated that if such integration occurs, it would be the final step in mainstreaming cryptocurrency assets in Europe. This move could be seen as a game-changer for the cryptocurrency market.
ESMA’s Call for Input from the Industry
ESMA has also called for input from the industry and experts on expanding suitable assets for the area known as Undertakings for the Collective Investment in Transferable Securities or UCITS. This move indicates ESMA’s willingness to engage with industry stakeholders and experts to make informed decisions about the future of cryptocurrency assets in Europe’s investment landscape.
Conclusion
The European Securities and Markets Authority’s inquiry into the inclusion of cryptocurrencies in investment products could potentially change the landscape of the cryptocurrency market in Europe. If ESMA is convinced, it could play a transformative role in the destiny of the cryptocurrency market. This move could be seen as a game-changer, marking the final step in mainstreaming cryptocurrency assets in Europe.
