MiCA News

European Commission policy officer Ivan Keller highlights high-profile centralized exchange shortcomings as key reasons for the implementation of MiCA regulations in Europe.

The country said EU crypto rules will come into force in December 2025, ahead of the general deadline for implementing MiCA for all 27 member states of the EU.

The joint guidelines include granting authorization for asset-referenced tokens issuance and crypto asset service providers’ conducting prudential assessments before potential acquisitions.

Crypto asset service providers may not benefit from full rights and protections afforded to them under MiCA until as late as July 2026, the ESMA said.

The regulator will publish a final report based on feedback received and submit the draft technical standards to the European Commission by June 2024.

Mário Centeno praised the European Union’s first comprehensive crypto framework, MiCA, but insisted on further international consolidation of regulatory efforts.

The company cites the inability to meet regulators’ requirements but says it intends to return to the Dutch market.

Potential implications around financial stability, lower market appeal and mainstream use of stablecoins were the main concerns highlighted by the author of the report.

A Binance executive said the cryptocurrency exchange plans to delist stablecoins in the European market by June 2024 in order to comply with standards laid out by MiCA.

Malta has joined France and other EU nations in revising its existing crypto regulatory policies to align with MiCA, which comes into effect in December 2024.

The European Union’s Markets in Crypto-Assets regulatory framework isn’t all good, but it provides a level of clarity foreign to the United States.

The amendments will become obligatory starting Jan. 1, 2024, and must be taken into account in by applicants for enhanced DASP registration.

There’s a lot of work left to be done on Web 3.0. The European Commission is getting ahead of itself by trying to move to what it calls “Web 4.0.”

Over the last year, leaders in the European Union have been vocal about their desire to stay on top of the latest developments in Web3.

Circle’s Patrick Hansen provided an overview of the euro-denominated stablecoin market at EthCC: It all looks rosy, he said.