The European Banking Authority (EBA) has published a report assessing the applicability and suitability of EU financial services law (within the EBA’s sphere of responsibility) to crypto-assets. The report advises the European Commission to carry out a cost/benefit analysis to assess whether EU-level action is need to address the issues identified. Such a cost/benefit analysis should take into account the potential application of DLT and crypto-assets beyond the financial sector, and should extend to aspects relating to the environmental impact of some crypto-asset activity.
