EU reinforces tight limits on crypto firms from outside bloc

Contributing sentiments towards policy:

58% : The EU approved the world's first comprehensive rules for crypto markets last year, known as MiCA, a groundbreaking move in an online sector where national borders have been hard to police.
58% : "The proposal is out to public consultation until the end of April, with a final text due by the end of 2024 at the latest.
55% : The latest EU proposals on how crypto firms and regulators should apply the law in practice cover crypto asset firms from outside the EU that want to offer services to EU customers directly, rather than from a physical base inside the bloc.
51% : "Actual solicitation of business in the EU by a third country firm, which would include undertaking a marketing campaign in the 27-country bloc, is prohibited, ESMA said.
49% : ESMA said that it and national regulators in the EU would take "all necessary measures to actively protect EU-based investors and MiCA-compliant crypto-asset service providers from undue incursions by non-EU and non-MiCA compliant entities.
48% : Initiation by the customer is known as 'reverse solicitation' and a concept seen in other EU financial laws that the bloc's policymakers have tightened up on, putting pressure on foreign firms to open a branch or subsidiary in the EU.
46% : Crypto companies based outside the EU will only be able to directly serve customers within the bloc under very limited conditions to avoid unfair competition, the European Securities and Markets Authority (ESMA) proposed on Monday.

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