The Dutch Authority for the Financial Markets (AFM) has indicated that future policy developments in the United States and European Union could lead to increased "regulatory divergence," particularly in the areas of sustainability and crypto-assets. This statement was made in a press release on January 16.
"Future policy changes in the US and the EU, for instance, could increase regulatory divergence between the US and the EU, for example around sustainability or crypto-assets," said Authority for the Financial Markets (AFM), Dutch Authority for the Financial Markets (AFM).
According to Crypto Briefing, the potential appointments of Paul Atkins as Chairman of the U.S. Securities and Exchange Commission (SEC) and David Sacks as Crypto Czar by President-elect Donald Trump could signal changes in U.S. crypto regulation. If confirmed, Atkins, known for his pro-innovation stance, may implement a lighter regulatory framework compared to previous SEC leadership. Sacks, with his background in venture capital and technology, could help shape U.S. crypto policy.
Trump has pledged to transform the United States into the "crypto capital of the planet" by introducing supportive policies and creating a national Bitcoin reserve. He declared, "Instead of attacking industries of the future, we will embrace them, including making America the world capital of crypto and Bitcoin." Cointelegraph notes this marks a departure from earlier regulatory strategies aimed at promoting innovation and establishing U.S. leadership in the cryptocurrency sector.
According to the Autorité des Marchés Financiers (AMF), MiCA regulation mandates that crypto-asset service providers (CASPs) obtain authorization before offering services. They can do so by getting approval from national authorities or notifying them if they are already authorized under specific statutes. The regulation imposes obligations on CASPs including incorporation requirements, governance standards, client asset protection measures, and complaints handling procedures. CASPs must also adhere to prudential standards and maintain business continuity plans while complying with anti-money laundering and cybersecurity regulations.
The AFM has been responsible for overseeing financial markets since March 1, 2002. It supervises various sectors such as savings, investment, insurance, loans, pensions, capital markets, asset management, accountancy, and financial reporting with a focus on promoting fair and transparent markets. The AFM uses inspections, enforcement actions, and standard-setting to monitor market conduct and address breaches by issuing sanctions such as fines or warnings or even withdrawing licenses.
