21Shares called on the European Securities and Markets Authority to create “much-needed clarity” for retail and institutional crypto investors across Europe.
Crypto asset investment firm 21Shares calls on the European Securities and Markets Authority to address regulatory inconsistencies across Europe and establish clearer guidelines for the inclusion of crypto assets in collective investment operations in transferable securities funds are.
The move is aimed at addressing regulatory inconsistencies across Europe that are currently causing confusion for both retail and institutional investors, the Zurich-headquartered company said in a press release on Monday, October 7. said.
While some European countries such as Germany and Malta allow UCITS funds to hold cryptocurrencies, countries such as Luxembourg and Ireland do not, the company said, adding that such a fragmented approach “It is confusing and makes it difficult for investors to understand and compare cryptocurrencies,” he added. option. ”
“The lack of a common approach can lead to deficiencies in investor protection. Investors are forced to access assets through other means, which are often more expensive and less professionally managed. Because it is necessary.”
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The company proposed that ESMA introduce clear and consistent guidelines for indirect exposure to cryptocurrencies across all EU member states, which would allow for broader access to crypto investments while also providing “ He insisted that a “high level of protection” would be ensured.
The proposal comes as ESMA considers feedback from a recent consultation on the inclusion of new asset classes, including cryptocurrencies, in UCITS funds. Market participants are focused on ESMA’s next steps, but the timeline for potential regulatory changes remains uncertain.
