In this paper, we explore how regulatory reform in the European Union – through the Markets in Crypto-Assets (MiCA) proposals – and the UK is looking to unlock the potential of crypto-assets and establish a regulated and structured market ecosystem that achieves parity with more traditional financial instruments such as equities, bonds, structured products, credit and rates derivatives. It is also seeking to offer investors with protection while instilling confidence in crypto-assets and providing regulators with the ability to detect market abuse and ensure market stability.

The paper additionally outlines:

• The potential of the new asset class
• The current barriers
• The regulatory landscape in the EU and UK
• Implications for the market
• What the industry should be considering.

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