Keeping up with the Cryptos

It is hard not to notice how cryptoassets are increasingly moving towards everyday usage. Exchanges, such as Coinbase, have made it possible for many of us to "jump start your crypto portfolio".

However, the opening up of the cryptoeconomy, not only creates a race between exchanges and traders to stay on top of moving prices and new currencies, it also puts pressure on regulators to keep up with a rapidly changing landscape.

Regulators in the EU and the UK are looking to expand the regulatory perimeter. The EU's answer to a potential regulatory lacuna is to set up a new framework for cryptoassets (MiCAR). MiCAR is effectively the EU's answer to MiFID II for cryptoassets.

Firms in the crypto space are on notice that regulators have their eyes on this area and that as we all jump start our portfolios they must be careful to ensure that compliance frameworks grow with business.