Two major European regulators have separately called for cryptocurrency and ICO rules at the EU level.

Firstly, the European Banking Authority (EBA), a regulatory agency of the EU, has urged the European Commission to examine whether unified crypto rules are needed across the region.

In a report published Tuesday, the EBA said that crypto asset-related activities do not currently fall under existing EU financial laws and, as these activities are “highly risky,” appropriate rules need to be put in place to protect investors.

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