Crypto Assets Should Be Classified as Securities, Says European Parliament Study
A study commissioned by the European Parliament has proposed that all crypto assets should be treated as transferable securities by default.
To avoid being classified as a security, the study’s authors proposed that the intermediary behind a crypto asset can get an exemption from a national competent authority (NCA), meaning the relevant regulatory authority in an EU member state.
Furthermore, the study proposed a shift in the burden of regulatory compliance from national regulators to the entities that offer or facilitate trading of crypto assets.