Norges Bank Raises Concerns Over Crypto Regulation

Norway's central bank, Norges Bank, has expressed concerns over international regulation and its compatibility with the country's interests in its annual Financial Infrastructure Report. The report emphasizes the need for adequate regulation of crypto assets, pointing out that targeted regulations often fail to address risks posed by new technological developments. The upcoming EU's Markets in Crypto-Assets (MiCA) regulation, which may also apply to Norway, is seen as potentially insufficient. Norges Bank suggests that Norwegian authorities should consider faster progress rather than relying solely on international solutions to avoid undue influence by private entities on regulation and taxation. The bank is also researching central bank digital currency and plans to release its findings later this year.