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On 19 November 2021, the Council adopted a common position on the Regulation on Markets in Crypto Assets. The proposed regulation aims at providing a legal framework for cryptomarkets. Under the proposal, the issuers of crypto-assets will have to register with designated authorities in the Member State and obtain authorization to operate in the single market. The entities registered as credit institutions or the value of the offered crypto-asset does not exceed EUR 5 million are exempt from this requirement. The issuers of crypto-assets will have to provide information regarding their capital, technical features of the digital good, security protocols and the draft whitepaper in order to obtain a licence to operate.
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