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  • The AFME, Association for Financial Markets in Europe, has provided its recommendation on crypto regulations.  
  • Achieving the convergence of regulatory frameworks with global and regional initiatives should remain a top priority.  

The Association for Financial Markets in Europe (AFME), has published a new report with its recommendation on crypto regulation.

A new report by the AFME, sets out five recommendations for achieving supervisory convergence in regulating crypto assets across the bloc.

They believe that a pan-European crypto-asset classification scheme needs to be established, that can foster a common understanding of various terms and activities relating to crypto-assets in financial services.

AFME’s managing director and head of technology, James Kemp, said:

There has been a rapid rise in the development of crypto-assets, however, to realise those benefits, it is increasingly important that crypto-asset regulation is coordinated at the regional and global level to foster innovation while promoting financial stability and ensuring a level playing field.