Author: Maria Jęda

Satoshi Nakamoto introduced a revolutionary payment system in 2008, allowing direct transactions between two parties without the need for intermediaries such as banks. Although the system has gained lasting popularity, not all of its creator’s assumptions have been preserved. The crypto market began to be monitored not only by central banks, but also by other regulators responsible for enforcing consumer rights and regulations to ensure financial market stability.

Regulatory context

The implementation of cryptoasset surveillance contradicts the general idea of cryptocurrencies, which is independence from central authority. Nevertheless, contrary to the intention of their creators, state authorities see the new decentralized financial services as a threat to the traditional financial system and a challenge to the realization of consumer rights and the preservation of financial stability. In response to the problematic nature of the cryptoasset market, they have taken steps to implement instruments to ensure the protection of consumers (cryptoasset investors) and financial stability.

Author: Maria Jęda, an expert in international cooperation, personal data protection and blockchain technology