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“Recent events have highlighted once again the importance of having adequate regulation of crypto markets” to protect clients’ assets and the wider economy, McGuinness, who is the EU’s commissioner for financial services, said in the letter to Irene Tinagli, chairwoman of the European Parliament’s Economic and Monetary Affairs Committee, and Czech Finance Minister Zbyněk Stanjura, who is also chairman of the EU’s Council of Economy and Finance Ministers.

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