Regulatory Updates Emerge in Crypto and Payment Services Sector

The regulatory landscape for crypto and payment services continues to evolve as governments around the world issue updates and guidance.

One key development is the European Commission's consultation on the effectiveness of its Markets in Cryptoassets Regulation (MiCA). The commission is seeking feedback from stakeholders on how well the regulation has been implemented, with a view to making any necessary adjustments or improvements.

In the UK, the government has set out plans for financial services reforms as outlined in the King's Speech. While not specifically focused on crypto and payment services, the proposals are likely to have an impact on the industry.