ChainCatcher news, according to crowdfundinsider, the three major European regulatory authorities (EBA, EIOPA, and ESMA, collectively referred to as ESA) have released a consultation document on the regulation of crypto assets (MiCAR), establishing "a template for explanations and legal opinions on the classification of crypto assets, as well as standardized tests aimed at promoting a common approach to classification."

ChainCatcher news, according to Bloomberg, UK Prime Minister Keir Starmer will appoint Tulip Siddiq as the City of London Minister, a position within the Treasury, making her a key figure in regulating and advocating for the critical financial services industry.Insiders reveal that Siddiq, who has been a Member of Parliament since 2015, is expected to be appointed as the Treasury's Economic Secretary. This is her equivalent position in Starmer's shadow cabinet. The role is referred to as the City of London Minister, which pertains to the City of London and the broader financial services sector. Responsibilities also include overseeing fintech, crypto assets, and debt management policies.

ChainCatcher news, the International Organization of Securities Commissions (IOSCO) opened its policy proposals on the cryptocurrency and digital asset markets for public consultation on Tuesday. These policy proposals cover a range of issues including market abuse, conflicts of interest, customer asset protection, and information disclosure. The consultation period for the first set of detailed regulatory proposals for cryptocurrencies will end on July 31. (Source link)

ChainCatcher news, the Group of Seven (G7) intergovernmental political forum has stated that it will commit to implementing the upcoming regulatory framework for crypto assets from the Financial Stability Board (FSB) and the International Monetary Fund (IMF) recommendations on central bank digital currencies.The G7 finance ministers and central bank governors announced that they had discussed the issue of crypto asset regulation at a meeting held last Saturday in Niigata, Japan, ahead of next week's G7 summit. This year's summit host, Japanese Prime Minister Fumio Kishida, stated that G7 leaders would issue a joint declaration supporting stricter crypto rules.As the G20 rotating presidency, India has been advocating for globally coordinated crypto regulations. In February this year, the organization stated that the upcoming global crypto framework would be based on a new comprehensive report jointly drafted by the IMF and FSB. The G7 indicated that it would adhere to the standards set by the FSB.The announcement stated, "We look forward to the FSB finalizing its high-level recommendations by July 2023. We are committed to implementing an effective regulatory and supervisory framework for crypto asset activities and markets, as well as stablecoin arrangements, that aligns with the FSB's recommendations and standards and the guidelines set by SSBs (standard-setting bodies)." (source link)

ChainCatcher news, according to Lianhe Zaobao, the Monetary Authority of Singapore and the UK Treasury issued a joint statement today agreeing to prioritize further cooperation in areas such as crypto assets.Both countries shared their latest assessments on market development, opportunities, trends, and long-term expectations for the crypto asset industry, as well as risks and challenges related to financial stability and regulatory arbitrage. They have made significant progress in strengthening consumer protection regulations and stablecoin oversight, and have reached a strong consensus on the necessity of supporting the secure development of the digital asset ecosystem, while ensuring that the risks associated with digital assets are continuously managed. (Source link)