On 24 September 2020, the European Commission published the proposal on markets in crypto-assets to harmonise the legislative framework for the issuance and trading of crypto tokens to protect consumers and investors from market instability, fraud and money laundering. The proposal outlines transparency rules, requiring crypto-assets issuers and providers to publish a white paper presenting the crypto-asset characteristics, technology, data regarding their asset reserves, consumers' rights and obligations. The white paper will have to be submitted to the regulator minimum of 20 days before its released to the public. Furthermore, the issuers will have to ensure that they meet cybersecurity requirements to safeguard the investments in the crypto-assets, otherwise their activities could be suspended.
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