A single market strategy is a unified approach to engaging with a specific economic or regulatory region, aiming to standardize practices and offerings across that area. In the digital asset domain, this could involve a consistent regulatory framework or a platform designed to operate seamlessly across various national markets. It seeks to reduce fragmentation and complexity. This approach promotes uniformity and ease of operation.
Context
European Union initiatives to establish a single market for digital assets, such as the Markets in Crypto-Assets regulation, exemplify efforts towards a single market strategy. These regulatory developments aim to provide clarity, consumer protection, and operational consistency. They benefit crypto businesses operating within the region.
The proposed shift to ESMA-led supervision fundamentally alters the MiCA single-market 'passporting' strategy, demanding a unified, pan-European compliance architecture.
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