I-ESMA icebisa ukuba uthintele abasebenzisi be-EU: Uhlaziyo olutsha oFumana ukwazi ngalo

NgoFebruwari 26, 2025, i-European Securities and Markets Authority (ESMA) yapapashwa isikhokelo kubahlali be-EU ababhalisa kumaqonga angaphandle, aziwa ngokuba 'kukucenga umva' phantsi kweNqaku lama-61 le-MiCA. Phambi kohlaziyo, abahlali be-EU banokubhalisela amaqonga angaphandle ngokwenyathelo labo; ngoxa oko kusavunyelwa, ukutolika okutsha kungqongqo ngakumbi.

Olu hlaziyo olutsha lujolise kubanikezeli beenkonzo ze-asethi ze-crypto (i-CASPs) ezingenalayisenisi kwi-EU. Ugxininiso lwabo lujolise ekubuyiseleni umva phantsi kwenqaku le-61 le-MiCA kwaye ligxininisa imingeni iifemu ezingekho kwi-EU ezijongene nazo xa zibonelela ngeenkonzo ze-crypto asset kubathengi be-EU.

Izikhokelo zifuna ukwenza isakhelo esifanayo sokuvavanya xa iifemu ezingezizo eze-EU zithathwa ngokuba zifuna abathengi kwi-EU. Baneenjongo eziphambili ezimbini, ezizezi:

• Thintela ujikelezo lwe-MiCA
• Qinisekisa ulongamelo oluhambelanayo kuwo wonke amagunya e-EU

Ngokutsho kwe-ESMA, amanyathelo aya kuqinisekisa inqanaba lokudlala ngelixa likhusela abathengi kwi-EU ngokuqinisekisa kuphela abaqhubi abanelayisensi abanokubonelela ngeenkonzo zabo.

Imingeni yaBaboneleli ngeNkonzo ye-On-EU Crypto

Kubaboneleli be-asethi ye-crypto ngaphandle kwelayisensi ye-EU, uhlaziyo lubonisa umngeni onzima, obandakanya inkcazo engqongqo yokucela. Ngaphantsi kwezikhokelo ezitsha, nasiphi na isenzo esibonelela, sipapasha, okanye sikhuthaza iinkonzo ze-crypto asset ngaphakathi kwe-EU, nokuba ngokungathanga ngqo, ziya kuthathwa njengesicelo. Kwanephulo lokuthengisa lendalo jikelele elifikelela kwi-EU lingawela phantsi kolu luhlu. Oko kuthetha ukuba inkampani engeyiyo eye-EU inxibelelana ngempazamo nabathengi be-EU ngokusebenzisa amaphulo okuthengisa asebenzayo, banokubonwa njengabacengayo. Imeko enjalo inokubangela izohlwayo ngenxa yokwaphulwa kweMiCA.

Kwisikhokelo, iifemu ze-crypto zangaphandle ngaphandle kweelayisensi ze-EU CASP zinconywa yi-ESMA ukwenza amanyathelo okuthintela. Izikhokelo ezitsha zinokunyanzela iifemu ukuba zibandakanyeke kwiinzame ze-geo-blocking zokuqinisekisa ukuba izinto zabo zokuthengisa azifikeleli kwi-EU. Nangona kunjalo, kusekho iminyino yokucela umva ngokusemthethweni ukuba umthengi we-EU uqalisa ukunxibelelana ngokuzithandela kwakhe.

Inkcazo yokucela

Ukucengwa kugubungela uluhlu olubanzi lwezenzo, kwaye kubandakanya nayiphi na intengiso, intengiso, okanye unikezelo lweenkonzo ze-crypto kubathengi ngaphakathi kwe-EU. I-ESMA yenze ngabom inkcazo ibe banzi kangangoko ukuze igubungele zonke iindlela ezinokwenzeka zemveli, kunye neentengiso zedijithali. Okubangela umdla kukuba, kuquka iintlanganiso zobuso ngobuso. Izikhokelo zikwabandakanya ukufunwa komntu wesithathu, okunje ngabaphembeleli abanomxholo wabo okhoyo kwi-EU.

Olona khululo lubalulekileyo lulutho lwemathiriyeli yezemfundo kunye neziganeko zeshishini, apho eyona nto kugxilwe kuyo kukwabelana ngolwazi malunga neteknoloji esisiseko okanye izinto ezintsha. Nangona kunjalo, ukuba abaphulaphuli baqondiswe kwi-platform engekho ye-EU enikezela ngeenkonzo ze-crypto, inokuthathwa njengentengiso.

Inkcazo ebanzi yezikhokelo iqinisekisa ukuba nayiphi na inzame yokwakha ubukho be-brand kwi-EU, kunye nelayisenisi efanelekileyo, inokuqwalaselwa phantsi kwesakhelo esitsha.

IiNdlela eziGqwesileyo kwiiNkampani ezingezizo eze-EU

Ngelixa izikhokelo ezitsha zithintele kakhulu, kusekho iindlela zokunikezela ngenkonzo ye-asethi ye-crypto ukufikelela kubathengi be-EU. Okokuqala, izikhokelo azithinteli iinkampani ezingezizo eze-EU ekuboneleleni ngeenkonzo zabo kubaxumi abakwi-EU. Ibavala kuphela ekuzibandakanyeni nako nakuphi na ukucenga.

Ukuphawula ngezikhokelo, uPeter Kerstens, umcebisi wekhomishini ye-EU oye wanceda ubugcisa beMiCA, kuphawuliwe ukuba inkampani engeyiyo ye-EU, kwindlela eqhelekileyo yokusebenza kwayo, ifumana isicelo kumxhasi we-EU, akufanele isikhabe. Kwakhona kwaphawula ukuba isenzo sokunyanzeliswa kwe-EU kuya kuba nzima kubaboneleli ngenkonzo ngaphandle kobukho be-EU. Ukuqinisekisa ukuba iinkampani azijongani naluphi na ungquzulwano kunye ne-EU, ezinye iindlela ezilungileyo eziqhelekileyo zinokubandakanya:

Sula ukugcinwa kweeRekhodi

Xa zinxibelelana nabathengi be-EU, iinkampani kufuneka ziqinisekise ukuba zineerekhodi ezineenkcukacha zolu nxibelelwano ezibhala zonke iindibano. Ngokubonisa ukuba abathengi baqalise unxibelelwano, banokunciphisa ukubakho kwalo naluphi na uxinzelelo lwe-EU.

Hlaziya iZixhobo zokuThengisa

Kubalulekile ukuba zonke izinto zokuthengisa zihlaziywe, kubandakanywa iintengiso, izithuba zeendaba zoluntu, kunye nezimemo zesiganeko ukuqinisekisa ukuba azijoli kubathengi be-EU.

I-Geo-Blocking njengeNdawo yokuGqibela yokuGqibela

Kwezinye iifemu, i-geo-blocking inokuba ngumlinganiselo olula kunokuzama ukuqinisekisa ukuba imathiriyeli yabo yokuthengisa ayifikeleli kubathengi be-EU. Iqinisekisa ukuba iidilesi ze-IP ezivela kwi-EU azifikeleli kwiinkonzo zabo. Nangona kunjalo, oko kunokunciphisa amathuba oshishino lwendalo.

IMida yokuBhalisa ngeposi

Ukuba inkampani ifumana umxhasi we-EU ngokwendalo, kusekho imida engqongqo kwinto enokuyenza ngayo. Imithetho iyayinqanda inkampani ukuba ibonise nayiphi na into yokuthengisa malunga naluphi na ezinye iinkonzo zabo ze-crypto. Oko kuthetha ukuba akufuneki bafumane ii-popups zewebhusayithi, uhlaziyo lwe-imeyile, okanye iibhena zokuthengisa.

Iimpembelelo kuBahlali base-EU

Inqaku le-61 le-MiCA linokutolikwa ngokuhlukileyo kwiinkampani ezahlukeneyo. Ingcaciso evela kwi-ESMA kunye nendlela eya kusebenza ngayo iya kukhokelwa yinkqubo yomthetho. Ngelixa ababoneleli beNkonzo ye-Asethi ye-Virtual (VASPs) bengaphelelanga ekunikezeni iinkonzo zabo kwi-EU, yenza kube nzima ukuba basebenze apho.

Ngokomzekelo, phantsi kokutolikwa okungqongqo kwemithetho yokucela, ukuba umxhasi we-EU ujoyina iqonga le-crypto kwaye uthenge i-BTC, akufanele akwazi ukubona nayiphi na enye i-asethi enikezelwa kwiqonga, njengoko oko kuya kwenza uhlobo lwentengiso engalindelekanga.

I-EU sele ineminye yemithetho engqongqo ethintele ukhetho abanalo abahlali. Ngokomzekelo, phantsi kwemithetho ye-MiCA eyaqala ukusebenza ngoDisemba 2024, ababoneleli be-stablecoin kufuneka babhalise kwi-EU. Isiphumo siye saba kukuba zonke ii-VASP ze-EU ziye zayeka ukunikela nge-USDT kunye nezinye i-stablecoins, njengoko akukho namnye wabaqhubi be-stablecoin abafake isicelo selayisensi ye-EU.

Ngaphantsi kweNqaku le-61 le-MiCA, iinkampani ezingezizo eze-EU zinokunikezela ngeenkonzo zazo kubahlali be-EU. Nangona kunjalo, ukutolikwa kwamva nje kwe-ESMA kuthetha ukuba oko akunakwenzeka. Enye yeengcebiso zabo kukuba iinkampani ezingezona ze-EU ze-geo-block iinkonzo zabo, ezibonisa injongo yazo kukudimaza zonke ii-VASP ezingabhaliswanga kwi-EU ekunikezeni iinkonzo zabo.

Ukuqukumbela

Isikhokelo esitsha esivela kwi-ESMA kwiSiqendu 61 se-MiCA sisebenza njengesikhumbuzo sokuba ukuthotyelwa kwe-EU kwi-VASPs yintsimi eguqukayo efuna indlela esebenzayo. Ababoneleli ngeenkonzo belizwe lesithathu kufuneka balungelelanise injongo yabo yokukhulisa isiseko sabathengi babo ngokubambelela ngokungqongqo kwimithetho yokufunwa kweziganeko.

Ngelixa unyanzeliso lwe-ESMA lwe-VASPs ngaphandle kwe-EU lunokuncipha, lunokuba nefuthe kwiinzame zabo zexesha elizayo zokufumana ilayisenisi ye-EU ukuba abathobeli isikhokelo esitsha. Lilonke, ukuhlala unolwazi ngundoqo kwimisebenzi yoshishino ephilileyo. Kubasebenzisi be-crypto asethi ababoneleli, kubalulekile kwakhona ukuqinisekisa ukuba iqonga abalisebenzisayo lihambelana nemithetho yokuphepha ukunqunyulwa ngokukhawuleza kokufikelela ngenxa yoxinzelelo lwe-EU.

Ukuba unomdla wokufumana ulwazi oluninzi lwe-crypto, unokubukela i-crypto regulation rating apha kwaye ufumane uhlaziyo kwi -akhawunti yam ye-X .