The EU asks for approval of the draft law, crypto-assets in the hands of MPs! The Government draft arrives in Parliament for discussion

The Albanian Government’s draft law on crypto-asset markets has now arrived in Parliament, where it is expected to be discussed among MPs before final approval.

The draft contains many innovations for a sector considered unregulated in Albania.

Council of Ministers: The draft law aims to regulate the entities and activities related to the issuance of crypto-assets and electronic money tokens, as well as crypto-asset intermediation activities, such as operating a trading platform, exchange, custody, receiving and transmitting orders, executing orders, placing on the market, transfers, advice and administration of a crypto-asset portfolio.

The draft aims to align fully with the EU regulation for this field, for investment, payment and electronic money services.

Council of Ministers: The regulatory requirements for these entities include maintaining a minimum capital, requirements on corporate governance, conflicts of interest, cyber and operational security, measures for consumer protection and prevention of market abuse, as well as implementation of policies to prevent money laundering.

Parliamentary debate in committees appears to have already begun, without the official procedures having been completed.

According to the Government, the initiative enables innovative Albanian businesses to operate under clear, stable rules equal to those of the EU.