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ECB says it has responsibility to ensure crypto providers operate ‘safely and soundly’ in the bloc

By Elizabeth Hearst for AMLi

The European Central Bank (ECB) has stressed it has responsibility to ensure crypto asset service providers operate “safely and soundly” in the bloc.

Crypto-asset markets are “developing apace”, and while the licensing of credit institutions is “essential” for the public regulation and supervision of the European financial system, licencing should “not stifle competition, financial innovation or technological progress”, according to the regulator in a supervision newsletter. 

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