Crypto-currencies and crypto-assets, after the exponential growth that began in 2009, are now in sharp decline due to the recent crises. However, the circle to mitigate the risks to financial stability and investors seems to be tightening every day but also seems to never close. The regulatory path in the EU is now traced on two tracks: the MiCar Regulation and the prudential discipline on activities. The time frame is not short and the crypto market could, in the meantime, accelerate the evolution towards inclusion in traditional finance, or instead further collapse and channel itself towards the most opaque and tolerant jurisdictions and areas of the web.
