Cross-border supervision refers to the coordinated oversight of financial activities and entities operating across multiple national jurisdictions. In digital assets, it addresses regulating cryptocurrency exchanges, DeFi protocols, and stablecoin issuers serving a global user base. Effective supervision requires international cooperation and harmonized regulatory standards to mitigate risks. It aims to establish a consistent regulatory perimeter for globally distributed digital asset services.
Context
Cross-border supervision is a prominent regulatory discussion as governments globally contend with the decentralized and borderless nature of crypto. Key debates center on establishing common frameworks, information sharing agreements, and enforcement mechanisms among different national authorities. The development of global standards by bodies like the Financial Stability Board is a critical area to observe.
The European Commission advances a reform to centralize digital asset supervision under ESMA, streamlining MiCA enforcement and mitigating jurisdictional arbitrage.
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