Regulatory authorities in the U.S. and Europe are looking to pay more attention to the crypto industry this year. The two regions, sometime soon, are expected to come up with a more robust framework for digital assets, this year. Both the United States Securities and Exchange Commission (SEC) and the European Securities and Markets Authority (ESMA) will hopefully be more explanatory in 2020.

In the U.S., the SEC’s Office of Compliance Inspections and Examinations (OCIE) recently published its “2020 Examination Priorities.” The examination is the SEC’s effort (s) to ensure that markets are as devoid of manipulation as possible. This keeps markets running properly and keeps investors safe as well.

In the statement, the OCIE said it will focus in 2020, on “financial technology (fintech) and innovation, including digital assets.”

“The digital assets market has grown rapidly and present various risks, including for retail investors who may not adequately understand the difference between these assets and more traditional products. Due to these risks, OCIE will continue to identify and examine SEC-registered market participants engaged in this space.”

The OCIE adds that it will examine digital assets with the six different qualifiers. They include investment suitability, portfolio management, pricing and valuation, safety of client funds, compliance and employee supervision.

For the ESMA, it has highlighted a plan for 2020 to 2022. Its own document says that key players in the sector must “acknowledge” all of the dangers and risks possible from the sector. These players must then provide “adequate protection.

It is worth noting that China is already way ahead on digital currencies and is set to begin a pilot test of its central bank digital currency (CBDC).

Image Credits: Pixabay

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