German BaFin official calls for global rules to uniformly regulate crypto space

Odaily News Rupert Schaefer, executive director of strategy, policy and control at the German Federal Financial Supervisory Authority (BaFin), emphasized the importance of global unified supervision of the cryptocurrency industry in a blog post on September 18. Schaefer acknowledged that there has been clear progress in cryptocurrency regulation, including the EU’s adoption of recommendations from MiCA, the Financial Stability Board (FSB) and the International Association of Securities Commissions (IOSCO), as well as the Basel Committee’s new international regulatory standards for the handling of cryptocurrencies. However, Schaefer cautioned that there is global inconsistency in crypto regulation and that common principles must now be implemented consistently. (Cointelegraph)