The letter lists challenges and opportunities found during the first year of application which include innovative solutions for cash settlement, custody through self-hosted wallets, interoperability and more.
Simultaneously, the watchdog has launched its third, and final, consultation package under the Markets in Crypto-Assets (Mica) regulation.
Asset servicer offers access to fintech solutions through an online marketplace which will now include PRIIPs offering from AlphaOmega.
“No logical or economic basis for progressive penalties” says one association as others reply to European regulators to point out the damaging unintended consequences of such a system.
US custodians will be keeping a keen eye on the Congressional review process, which seeks to rescind the stringent digital asset measures restricting them from the crypto playing field.
The amendments, which were also approved by the CFTC, aim to strengthen the ability of the FSOC to monitor and evaluate systemic risks.
New rules would require certain hedge funds active in the Treasuries market to register as dealers as the US regulator looks to reform the $26 trillion market.
A formal repeal has been introduced against the US Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin (SAB) 121, which has made it too costly for traditional custodians to hold crypto assets in custody.
Market participants have until 29 April to provide comments; ESMA will publish its final report in Q4 2024.
Our predictions series continues as Societe Generale Securities Services, Proxymity, Marex and Firebrand Research give their views on regulatory and macro factors set to impact the industry in 2024.