Nash, a non-custodial exchange and blockchain services provider, has announced the launch of USDC stablecoin markets in European jurisdictions. In its most recent quarterly event, Nash stated its intent to open a stablecoin market in the region, which would make them among the first exchanges in Europe to comply with regulators while offering such markets.
In a joint statement issued on December 5th, 2019 by the Council of the European Union and the European Commission, regulators stated, “no global stablecoin arrangement should begin operation in the European Union until the legal, regulatory and oversight challenges and risks have been adequately identified and addressed.”
Examples of these multifaceted challenges and risks include consumer protection, privacy, taxation, cybersecurity and operational resilience, money laundering, terrorism financing, market integrity, governance, and legal certainty.
The report went on to say, “stablecoin projects and arrangements should not come into operation until all of these risks and concerns are properly addressed.”
In a Tweet, Nash co-founder, Ethan Fast, said, “[we’re] really happy that we have overcome what was previously a big legal roadblock on European stablecoin regs!”
The announcement can be found at the link below: