Friday, November 25, 2022 9:00 PM ▪
3
Accurate reading – by
FSMA, the Belgian financial policeman, has published a document on cryptocurrency. In the document in question, the Belgian institution classifies cryptocurrencies as securities or instruments. She wants to clear things up, because the state of cryptocurrency is an issue that is not always unanimous. A position completely contrasted with the position of his American counterparts.
Cryptography: The FSMA publishes a document on the classification of virtual currencies
L’Belgian Financial Market Authority (FSMA) has just made a document on cryptography available to the general public. The organization is making a ranking in which it is aware that some cryptocurrencies such as bitcoin And the Ethereum Not addresses. In addition to being classified as real estate securities or instruments, the FSMA also wants to show how they are classified Existing financial regulations may have repercussions encryption.
The Foundation asserts that its document is a response to questions commonly asked of it. In essence, the body differentiates between Origin with a source And the Origin without source. As a non-issue cryptocurrency, Bitcoin and Ethereum are not financial instruments or securities.
The foundation goes further in categorizing virtual currencies by placing them in several categories. We can clearly read that cryptocurrencies with losing stocks and gains have a status that can vary. If these virtual currencies are tradable, then they are real estate value. If it is not possible to negotiate with them, they fall into the category Financial instruments.
Finally, if crypto proves itself to provide a product or service and can be used as an investment, then it is a security. Looking at the document published by the FSMA, we see some opposition to the regulations in force in the United States. The dry In the oven and in the factory to maintain a monopoly on cryptocurrency, especially after a crash FTX.
conclusion
The crypto world has not yet recovered from the scandal that FTX was mired in. In the field of prevention, financial supervisory institutions are increasing their maneuvers to try to regulate this sector. In the United States, the Securities and Exchange Commission has never hidden its desire to control the market to prevent things from going bad. In Belgium, this is not really the same battle, even if this document from the FSMA is not necessarily unanimous in the camp of cryptocurrency lovers.
Get a summary of the news in the cryptocurrency world by subscribing to our new service Daily and weekly so you don’t miss any of the essential Cointribune!
A PhD student in financial law and an experienced SEO web editor, Cédrick Aimé is passionate about cryptocurrency, trading, etc. He naturally participates thanks to his articles in the daily blockchain revolution in order to better democratize DeFi.