{"id":59686,"date":"2023-09-19T09:14:42","date_gmt":"2023-09-19T13:14:42","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=59686"},"modified":"2023-09-19T09:14:44","modified_gmt":"2023-09-19T13:14:44","slug":"bafin-calls-for-global-regulation-to-crypto-all-finance-centers","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bafin-calls-for-global-regulation-to-crypto-all-finance-centers\/","title":{"rendered":"BaFin Calls for Global Regulation to Crypto, all Finance Centers"},"content":{"rendered":"\n

BaFin, the German crypto regulator<\/a>, has stressed the risks associated with cryptocurrency and calls for global regulation to apply to all financial centers without exceptions.<\/p>\n\n\n\n

\"BaFin
BaFin Calls for Global Regulation to Crypto, all Finance Centers<\/figcaption><\/figure>\n\n\n\n

In a Sept. 18 blog post, Rupert Schaefer, Executive Director of Strategy, Policy, and Control at BaFin, emphasized the significance of unified global crypto industry regulation.<\/p>\n\n\n\n

Schaefer compared regulators to air traffic control and “certain crypto assets and decentralized finance projects” to unidentified flying objects using the unfortunate example of the FTX.<\/p>\n\n\n\n

Schaefer acknowledged the apparent progress in crypto regulation with the adoption of MiCA in the EU, the Financial Stability Board\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>‘s (FSB) and International Association of Securities Commissions' (IOSCO) sets of recommendations, and the Basel Committee's new international supervisory standard for the treatment of crypto asset exposures.<\/p>\n\n\n\n

However, the official drew attention to the global inconsistencies, where exceptions to the international regulatory drive are still possible.<\/p>\n\n\n\n

\n

\u201cNow the common principles must be implemented consistently and consistently worldwide. There should be no white spots in the flight radar: the global rules should also apply to niche financial centers.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

The same sentiment was recently expressed by Indian Prime Minister Narendra Modi, who advocated for global collaboration among G20 member states<\/a> in formulating crypto regulations.<\/p>\n\n\n\n

During the first half of 2023, the crypto and blockchain sector attracted the most investments among fintech companies in Germany and several other European markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

BaFin, the German crypto regulator, has stressed the risks associated with cryptocurrency and calls for global regulation to apply to all financial centers without exceptions. In a Sept. 18 blog post, Rupert Schaefer, Executive Director of Strategy, Policy, and Control at BaFin, emphasized the significance of unified global crypto industry regulation. Schaefer compared regulators to […]<\/p>\n","protected":false},"author":12,"featured_media":59690,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[934,16486,16485],"class_list":["post-59686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bafin","tag-finance-centers","tag-global-regulation"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/image-49.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/59686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=59686"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/59686\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/59690"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=59686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=59686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=59686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}