European ‘MiCA’ regulation on digital assets: Where do we stand?
With the MiCA regulation, the European Union is getting specific legislation for crypto assets that is harmonized across EU member states. The proposed European Union Regulation on Markets in Crypto Assets, or MiCA, (hereinafter the “regulation”) was put to a vote in the European Union Parliament’s Committee on Economic and Monetary Affairs on March 14, 2022, and in the end, the proposed amendment to ban or restrict proof-of-work-based crypto assets, which would have effectively resulted in a ban on Bitcoin (BTC), was rejected.The question of how crypto assets will be assessed from an....
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Decentralized exchanges must figure out how to up their Know Your Customer compliance before the regulation wave hits. In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance and blockchain space, as well as their roles in shaping the economy of the 21st century.The White House came out with an executive order on regulating crypto recently. Across the sea, European legislators defeated a legislative push that could have spelled major trouble for proof-of-work networks. These developments should be....
The Markets in Crypto-Assets passed the Tripartite negotiations, while the European Union anticipates a new body for AML regulation. According to the European parliament member and rapporteur for the Markets in Crypto-Assets (MiCA) regulation Stefan Berger, the deal on landmark pan-European Union regulation had been finally struck amid the Tripartite negotiations. It “will put an end to the crypto wild west,” as French Minister for the Economy Bruno Le Maire hopes. Still, while raising a modest optimism among some stakeholders, MiCa’s final draft will surely make life harder for others. A....
In an interview with Cointelegraph, the German politician explains why some forces in the European Parliament have suddenly come out in favor of a Bitcoin ban. The European Parliament’s Committee on Economic and Monetary Affairs recently approved a draft of its comprehensive Markets in Crypto Assets, or MiCA, crypto regulation package. The new framework covers a wide range of crypto-related subjects, such as the status of all major currencies and stablecoins and the regulation of crypto mining and exchange platforms.Stefan Berger, a member of the Christian Democratic Union (CDU), is the....
Most European citizens reject the idea of a cryptocurrency regulation regime imposed by the European Union (EU) on its member states, according to a recent survey. Most surveyed citizens lean towards independent cryptocurrency regulation in each country, compared to 25% that approve an EU-imposed regulation. However, most of the citizens polled acknowledged they still don’t know much about cryptocurrencies in the first place.
Europeans Reject EU Crypto Laws, Favor Local Proposals
European citizens are against the establishment of EU-imposed cryptocurrency-related laws,....
This article has been updated to include responses to the EBA by the Bitcoin Foundation and the UK Digital Currency Association. The European Banking Authority (EBA) has published an 'opinion' warning financial institutions to stay away from digital currencies until the industry is regulated. In the document, which was addressed to the EU council, European Commission and European Parliament, the EBA set out new requirements for the regulation of digital currencies and also instructed financial institutions not to buy, hold or sell digital currencies until new rules are in place. The EU....