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Europe’s securities regulator is seeking input from stakeholders on the potential inclusion of crypto assets in a potentially massive market. The European Securities and Markets Authority (ESMA), the regulatory authority responsible for overseeing financial markets within the European Union, has recently initiated a comprehensive review of the regulations surrounding the Undertakings for Collective Investment in Transferable Securities (UCITS) Eligible Assets Directive (EAD). This move could potentially enable the integration of cryptocurrencies into a vast investment market valued at approximately \u20ac12 trillion (roughly $12.88 trillion). On May 7, 2024, ESMA released a Call for Evidence seeking input from various stakeholders to assess the viability and implications of allowing UCITS to include a broader array of asset classes, notably cryptocurrencies. The UCITS framework, central to EU retail investment, accounts for around 75% of all retail investment in collective funds within the region. With its global reputation for strict regulation and investor protection, the inclusion of cryptocurrencies could represent a transformative shift in the investment landscape. The Next Big Catalyst For Crypto? ESMA’s review aims to address the evolving financial landscape, where the number and variety of financial instruments have expanded significantly since the UCITS framework was established nearly two decades ago. This expansion has led to uncertainties in determining asset eligibility, causing divergent interpretations and applications of the directive across member states. Sean Tuffy, a financial regulation expert, underscored the significance of this development to DL News, stating, “If ESMA is convinced, it would be the final step in mainstreaming crypto assets in Europe,” referring to it as a potential “game changer.” This sentiment is echoed by industry experts who believe that the inclusion of crypto assets could provide a robust alternative to traditional investment options, potentially enhancing portfolio diversification and returns. Related Reading: Crypto Traders Discuss Why Memecoins Have Been 2024\u2019s Most Profitable Narrative The Call for Evidence targets a broad audience, including investors, consumer groups, UCITS management companies, self-managed UCITS investment companies, depositaries, and trade associations. These stakeholders are invited to share their insights on market practices, interpretative issues, and practical application concerns related to the eligibility criteria and other provisions of the UCITS EAD. One of the critical areas of focus is the transversal consistency of key notions and definitions used in the UCITS EAD with other pieces of legislation in the EU Single Rulebook. This alignment is crucial to ensure that any new asset classes, such as cryptocurrencies, are integrated smoothly and consistently across all regulatory frameworks. Andrea Pantaleo, a lawyer specializing in crypto regulation, highlighted several potential benefits and challenges. He told DL News, “UCITS funds have specific investment limitations depending on the type of assets. We won\u2019t have a 100% crypto UCITS fund, but hopefully many investment funds could hold 1-2% of their liquidity in crypto.\u201d Related Reading: This Week\u2019s Crypto Watchlist: Top Coins Poised For Gains However, he also pointed out a significant obstacle: the coordination of custody regulations, which must align with the EU’s upcoming Markets in Crypto-Assets regulation (MiCA). MiCA is set to establish stringent rules for the segregation of assets and policies for their safekeeping, which will be pivotal in the custody of crypto assets. The potential inclusion of cryptocurrencies in UCITS comes at a time when other major economies, such as the US and Hong Kong, have begun integrating crypto assets into their financial products, notably through the approval of Bitcoin ETFs. These developments have not only validated the financial viability of cryptocurrencies but have also spurred significant investment inflows into the sector. The ESMA consultation process is set to conclude on August 7, 2024, after which the watchdog will compile the feedback and develop its technical advice to the European Commission. This advice will play a crucial role in determining whether cryptocurrencies will be included in the UCITS framework, potentially heralding a new era for crypto investment in Europe. At press time, the total crypto market cap stood at $2.202 trillion. 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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"EU Watchdog Considers Crypto Integration Into $12.88 Trillion Investment Market","url":"http:\/\/uniquehot.com\/news\/eu-crypto-integration-into-12-88-trillion-market\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/eu-crypto-integration-into-12-88-trillion-market\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/DALL\u00b7E-2024-05-09-11.48.27-A-digital-art-depiction-showing-a-large-fluttering-EU-flag-in-the-background-symbolizing-European-finance.-In-the-foreground-two-prominent-and-real.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/DALL\u00b7E-2024-05-09-11.48.27-A-digital-art-depiction-showing-a-large-fluttering-EU-flag-in-the-background-symbolizing-European-finance.-In-the-foreground-two-prominent-and-real.png?fit=1792%2C1024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","crypto news","cryptocurrencies","esma","eu","ucits"],"dateCreated":"2024-05-09T13:00:15Z","datePublished":"2024-05-09T13:00:15Z","dateModified":"2024-05-09T13:00:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"EU Watchdog Considers Crypto Integration Into $12.88 Trillion Investment Market\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/eu-crypto-integration-into-12-88-trillion-market\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/eu-crypto-integration-into-12-88-trillion-market\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/DALL\\u00b7E-2024-05-09-11.48.27-A-digital-art-depiction-showing-a-large-fluttering-EU-flag-in-the-background-symbolizing-European-finance.-In-the-foreground-two-prominent-and-real.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/DALL\\u00b7E-2024-05-09-11.48.27-A-digital-art-depiction-showing-a-large-fluttering-EU-flag-in-the-background-symbolizing-European-finance.-In-the-foreground-two-prominent-and-real.png?fit=1792%2C1024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"crypto news\",\"cryptocurrencies\",\"esma\",\"eu\",\"ucits\"],\"dateCreated\":\"2024-05-09T13:00:15Z\",\"datePublished\":\"2024-05-09T13:00:15Z\",\"dateModified\":\"2024-05-09T13:00:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/DALL\u00b7E-2024-05-09-11.48.27-A-digital-art-depiction-showing-a-large-fluttering-EU-flag-in-the-background-symbolizing-European-finance.-In-the-foreground-two-prominent-and-real.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/607175"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=607175"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/607175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/607176"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=607175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=607175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=607175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"total](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/TOTAL_2024-05-09_12-07-16.png?resize=3628%2C1673\")