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Publication of the 200-odd pages of law signals formal passage of a bill onto the EU’s statute book. In legal terms the two laws enter into force in 20 days’ time, and its provisions apply on December 30, 2024, with certain provisions taking effect slightly earlier on June 30, 2024. Source
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An EU study published last week has reopened a debate over whether digital assets should be regulated as securities – though lawmakers appear to favor a tailored approach. Source
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Without changes, “we are skeptical that MiCA will have positive short-term effects given the difficulties of enforcing its rules in an opaque cross-border context,” in which 10,000 crypto protocols vie for the lightest possible regulation, added the document, though its findings aren't a formal position of the European Parliament. Source
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MiCA will enter into force in a few weeks after being published in the EU’s official journal, which is likely in June. Its provisions – offering crypto exchanges and wallet providers a license to operate across the 27-nation bloc, and requiring stablecoin issuers to hold appropriate reserves – will take
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The European Securities and Markets Authority (ESMA) has recently urged cryptocurrency companies to explicitly label cryptocurrencies as unregulated when offered to investors, amid concerns about potential investor protection and financial risks. The European Securities and Markets Authority
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The EU’s Markets in Crypto Assets regulation (MiCA) is set to bring MiFID-style rules to the sector, but the regime will only take effect in around 18 months. In the meantime, ESMA, a Paris-based agency that groups and coordinates national regulators, is worried some companies are encouraging and exploiting the
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The international regulatory environment for cryptocurrency is improving, and the company is eyeing a retail expansion on the continent, Bakkt chief product officer Dan O’Prey said. On the whole, O’Prey saw positive long-term trends.Speaking to Cryptox’s U.S. News Editor, Sam Bourgi, at Bitcoin 2023, O’Prey described Bakkt as prioritizing its
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European Union Council members have given the final green light on the highly-anticipated Markets in Crypto-Assets (MiCA) legislation following a voting process on May 16.27 Finance ministers representing the EU's member states voted in favor of passing the MiCA bill as well as amendments to a number of regulations and directives
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MiCA requires crypto firms such as wallet providers and exchanges to seek a license to operate across the bloc, and stablecoin issuers to hold suitable reserves. Its main features were politically agreed in June, but it’s been subject to administrative hold-ups. Major provisions take effect just over a year after
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In answer to a further question from former U.S. Commodity Futures Trading Commission Chairman Timothy Massad, Campa also appeared to share concerns voiced by the U.S. central bank, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency that stablecoins on decentralized, permissionless blockchains could prove unsafe or
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