TRAction Fintech Co-CEO: Regulatory uncertainty in crypto products has been ignored to some extent

According to Finance Magnates, one aspect of the regulatory uncertainty that has led to the crypto market is crypto CFDs and whether they should be reported under EMIR and MiFID II (MiFIR). Speaking on this issue, Quinn Perrott, co-CEO of TRAction Fintech, said: "Because technology tends to develop faster than regulation and related crypto products are still in their infancy, the reportability of crypto and crypto derivatives is still There are many ambiguities. Brexit, leverage restrictions and the SFTR (Securities Financing Transaction Regulation) have recently caused concern, leading to issues around crypto that have been somewhat ignored. "At the same time, European securities and markets The Authority (ESMA) also recognizes the difficulty of applying crypto assets to European regulation, as the regulation was not designed with these tools in mind.