Wednesday, August 6, 2025
  • Login
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Europe’s MiCA will take effect on Sunday, ushering in a new age of transparent crypto regulation

by SB Crypto Guru News
June 28, 2024
in Regulations
Reading Time: 2 mins read
0 0
A A
0


Europe’s MiCA will take effect on Sunday, ushering in a new age of transparent crypto regulation
  • The Markets in Crypto-Assets (MiCA) regulation is a legislative framework established by the European Union to regulate crypto assets and related services within the region.
  • MiCA was adopted by the European Parliament in 2023 and will come into effect on Sunday, although not all at once.

MiCA provides regulatory clarity to the entire digital assets market across the Eurozone, making Europe one of the first Western countries to implement a clear framework that crypto exchanges, digital assets companies, and stablecoin issuers can adopt to remain compliant.

The framework aims to protect European investors from the fraud and risks plaguing the crypto markets while fostering innovation, economic competitiveness, and the interest of the Eurozone.

MiCA pushes for innovation in its stipulations around stablecoins, which will allow Euro-denominated stablecoins to replace the dollar-denominated variant. Under the new rules, stablecoins will be treated as electronic money, subjecting issuers to the same levels of compliance as traditional banks and money transmitters, including a 1:1 redemption to the Euro.

While the framework pushes for bold reforms, it also emphasizes protecting the European investor by mandating digital service providers obtain licenses as either digital asset service providers (DASP), virtual asset service providers (VASP), or crypto asset service providers (CASP).

Global stablecoins are not allowed under MiCA, and stablecoins pegged to other cryptocurrencies must primarily comply with European e-money licensing requirements. This would entail abiding by prudential, financial-crime compliance, and other rules.

To boost job and economic growth, licensed entities must maintain a local presence within the EU, which will serve as a base for their European operations.

While MiCA is a step forward, it is not without fault. Some of its faults include the cost of compliance, which could be burdensome on smaller crypto exchanges and service providers, vague (virtually non-existent) stipulations around decentralised finance, and a lack of flexibility in some stipulations, like those around stablecoins.


Share this article

Categories

Tags



Source link

Tags: AgeBitcoin NewsCryptoCrypto NewsCrypto UpdatesEffectEuropesLatest News on CryptoMiCARegulationSB Crypto Guru NewsSundayTransparentushering
Previous Post

Qatar Museums and Venice’s new protocol of co-operation includes aim of restoring ‘symbolic parts of the city’

Next Post

The Key to Preparing Your Business for an Eventual Investment or Sale

Related Posts

SEC staff statement on liquid staking may pave way for staking in spot Ether ETFs

SEC staff statement on liquid staking may pave way for staking in spot Ether ETFs

by SB Crypto Guru News
August 6, 2025
0

SEC staff said certain liquid staking activities do not constitute the sale of securities in a new clarification. The statement...

Wyoming Senator pushes bill to allow crypto in mortgage

Wyoming Senator pushes bill to allow crypto in mortgage

by SB Crypto Guru News
July 30, 2025
0

Senator Lummis has introduced a bill to include crypto in mortgage approvals. The bill targets young buyers and aligns with...

Trump signs GENIUS Act into law, positioning Ripple’s RLUSD for institutional adoption

Trump signs GENIUS Act into law, positioning Ripple’s RLUSD for institutional adoption

by SB Crypto Guru News
July 21, 2025
0

Ripple’s RLUSD could benefit from the new rules and expand its use in US financial systems. Only 14 million XRP...

US House revives Crypto Week agenda, advances three crypto bills

US House revives Crypto Week agenda, advances three crypto bills

by SB Crypto Guru News
July 16, 2025
0

Lawmakers voted 215 to 211 to advance the Guiding and Establishing National Innovation for US Stablecoins Act. The successful Wednesday...

South Korea’s crypto reform plans offer tax cuts and funding access to companies

South Korea’s crypto reform plans offer tax cuts and funding access to companies

by SB Crypto Guru News
July 9, 2025
0

The move would give digital asset firms access to tax breaks and state funding. Dunamu paid ₩24 billion in taxes...

Load More
Next Post
The Key to Preparing Your Business for an Eventual Investment or Sale

The Key to Preparing Your Business for an Eventual Investment or Sale

A Buddy’s Franchise is Built for Success in a Recession Resistant Industry

A Buddy's Franchise is Built for Success in a Recession Resistant Industry

Facebook Twitter LinkedIn Tumblr RSS

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.