PP982
Analítico de Periódico
SIRACUSA, Eugenia, e outro
Regulation of crypto assets in the EU and in the rest of the world : a pluri-focal approach / Eugenia Siracusa, Giovanni Zaccaroni
Il Diritto dell'Unione Europea, n.3-4 (2021), p.583-614
DIREITO COMUNITÁRIO, CRIPTOMOEDA
Crypto assets are important in driving innovation in the EU digital single market. They can promote financial inclusion, reduce the costs of financial transactions, and improve their speed. At the same time, however, they can be dangerous instruments for investors and facilitate tax evasion and money laundering. This paper argues that the right way to balance these competing needs is a calibrated regulatory response, which considers the peculiarities and market situation of each jurisdiction but also shares common fundamental features. After analyzing the risks of crypto assets and the common features of an effective regulatory response, this paper gives an account of the approach to crypto assets in the EU and in the rest of the world. This analysis shows that the regulatory approach to crypto assets is a pluri-focal one, where three legal orders (the EU, the US and China) have emerged and where the EU can represent an important source of inspiration for other jurisdictions.