A single market refers to a type of trade bloc where member countries allow the free movement of goods, services, capital, and people across their borders. In a digital context, this concept extends to creating a unified regulatory and operational environment for digital assets and blockchain services across multiple jurisdictions. It aims to reduce barriers and foster economic integration.
Context
The concept of a single market is a significant policy discussion in regions like the European Union, aiming to standardize digital asset regulations and promote cross-border innovation. A key debate involves how to achieve regulatory harmonization without stifling innovation or compromising national supervisory powers. Future developments will likely see efforts to establish common legal frameworks and technical standards that facilitate a more cohesive digital asset market across participating nations.
Decentralized MiCA authorization has created supervisory arbitrage, compelling ESMA to advocate for centralizing all CASP oversight to ensure single-market integrity.
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