The Norwegian Central Bank has stated that the country’s government should take action on crypto regulations.

Regulations are the main focus of the crypto industry this year. It is known that many countries and regulators are taking action to regulate the crypto industry. In particular, the European Union had taken a clear step in crypto with MiCA.

Norway’s Central Bank has called on the country’s government on crypto regulations. The bank recommended not to wait for the MiCA and to establish a national regulatory framework quickly.

Norwegian Central Bank Proposes National Crypto Regulations

The Bank of Norway underlined the importance of the international regulatory framework. However, the bank said Norway should create its own regulations instead of waiting for international regulatory solutions.

Expecting rapid regulatory progress, the Bank of Norway demanded that the Norwegian authorities take action. As an example of the national regulatory framework, the bank suggested considering how the risk associated with decentralized finance should be managed.

The European Union has given final approval to the world’s first comprehensive set of rules that provide clarity on crypto regulations. However, a clear study on international crypto regulations has not yet emerged.