The European Banking Authority, whose list of tasks includes regulating the EU cryptocurrency industry, reported a shortage of specialists to complete the task.
This was told by the chairman of the department Jose Manuel Campa (Jose Manuel Campa). According to him, the problem is complicated by a general shortage of specialists in the field of information technology. There are also difficulties with the fact that the EBA has not yet determined the list of cryptocurrencies that should be regulated. Although this should happen by 2025.
Campa is well aware that the cryptocurrency industry is very dynamic and can change significantly within two years. However, the main thing for the agency is the elimination of risks for consumers and companies:
“I think the main thing is to make sure that the risks that we have identified in the cryptocurrency sector are properly resolved. If we fail to adequately predict and address them, then we will have to live with the consequences.”
After taking on the task of regulating the industry, the EBA has mainly observed the development of the crypto industry and recent developments. However, after the fall of the crypto-currency market, the regulator has noticeably stepped up its efforts to protect consumers.
In April, MEPs called on the EBA to create a list of crypto companies potentially at risk of money laundering and terrorist financing.
Source: Bits
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