Legal & Regulation

Cryptocurrency

Stablecoins and crypto-assets need to be covered by common taxonomy, urges The World Federation of Exchanges

Stablecoins and crypto-assets need to be covered by common taxonomy, urges The World Federation of Exchanges

The World Federation of Exchanges, the global industry group for exchanges and CCPs, is calling for a response to the growth of stablecoins by developing a common taxonomy that would also cover crypto-assets more broadly. This would create consistent and common regulatory classifications before they fragment further, rather than trying to fix differences after the fact.

Tax

Financial services sector fears impact of Financial Transaction Tax on trading, liquidity, and active management

Financial services sector fears impact of Financial Transaction Tax on trading, liquidity, and active management

The possible introduction of a financial transaction tax (FTT) in the US and Europe to make up for lower tax revenues resulting from the Covid-19 pandemic, is raising concern from investors and advisers, shows new data from Greenwich Associates.

MiFid II

TISA partners with Atos to build European MiFID II blockchain utility for asset management industry

TISA partners with Atos to build European MiFID II blockchain utility for asset management industry

TISA, the UK’s cross-industry financial services membership body, has appointed Atos, a digital transformation firm, to build a digital utility for the asset management industry, called the TISA Universal Reporting Network (TURN). TURN is being created to ease regulatory reporting requirements for MiFID II. It will be available across Europe based on blockchain technology and is due to launch in the last quarter of 2020.