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EU's new crypto asset rules don't go far enough - ECB's McCaul

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The European Union's proposed regulations for crypto assets do not go far enough, and safeguards need to be strengthened to capture risks adequately, European Central Bank supervisory board member Elizabeth McCaul said on Wednesday. The European Parliament is set to vote on the Markets in Crypto-assets (MiCA) bill later this month, taking a big step in providing oversight of the crypto world after a series of scandals and collapses. "While the new Basel standard and MiCA are important milestones, I am afraid they will not be sufficient on their own," McCaul said in a blog post.

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