EU authorities hone in on risks posed by and to digital assets

Homepage > News > Finance > EU authorities hone in on risks posed by and to digital assets TL;DR: EU authorities targeted digital assets on three fronts: ESMA gave MiCA-authorized crypto firms three months to stop serving non-compliant stablecoins, the ECB’s Piero Cipollone warned that delaying the digital euro could weaken monetary sovereignty, and Europol urged the digital currency industry to prepare now for quantum threats to wallets. Key Takeaways: ESMA’s opinion gives MiCA-authorized crypto firms three months to stop services involving non-compliant stablecoins. After the deadline, only liquidation, conversion, withdrawal, transfer, or safekeeping of these tokens is allowed, under close supervision. ECB board member Piero Cipollone says a delayed digital euro risks weakening Europe’s monetary sovereignty. The ECB targets a mid-2027 digital euro pilot and possible issuance in 2029, pending legislation. Europol says a powerful quantum computer could derive a private key from an exposed public key and move funds without permission. Europol recommends a phased transition to post-quantum cryptography and the prioritization of the most exposed systems. A busy three days fo...