MiCa, AMLA and EU’s 'wild west' problem: Law Decoded, June 27-July 4
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....
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On June 6, the Web3 entertainment company Gala Games announced that the Wild West-focused battle royale blockchain game Grit will soon be available via the Epic Games Store and accessible to 194 million users. The well known company Epic Games is the producer of the Unreal Engine and the popular online video games Fortnite and Gears of War.
Blockchain-Powered Grit Gets Added to the Epic Games Store — Gala Games Exec Says Epic Listing Brings Legitimacy to This New Genre of Gaming
The Epic Games Store currently hosts a blockchain video game called Grit, a Wild West-based....
“Europe’s upcoming crypto-assets policy framework will be to crypto what GDPR was to privacy,” says Circle chief strategy officer Dante Disparte. Officials from the European Union (EU) have agreed on a landmark law that will make life tougher for crypto issuers and service providers under a new single regulatory framework. Stefan Berger, European Parliament member and rapporteur for the MiCA regulation — the person appointed to report on proceedings related to the bill — broke the news on Twitter saying that a “balanced” deal had been struck, which has made the EU the first continent with....
Following up on an article in which the United States Consumer Financial Protection Bureau (CFPB) was aiming to give bitcoin more attention comes a potentially controversial statement from the Bureau's Director, reports The Hill. The watchdog bureau is waving the flags of caution for those who may be interested in getting involved with the digital currency, or any other cryptocurrency, adding these emerging payment forms carry "significant risks." "Virtual currencies may have potential benefits, but consumers need to be cautious and they need to be asking the right questions," said CFPB....
Bitcoin in the Headlines is a weekly look at bitcoin news, analysing media and its impact. Bitcoin's Wild West days may be numbered, or so the headlines would have us believe. This week saw the release of the final version of the BitLicense, New York's long-awaited, and still heavily debated, state-specific regulation for bitcoin businesses. Unsurprisingly, the news was extensively covered in the media, and often heralded as a milestone in the evolution of the emerging technology. Many stories used legitimizing language and headlines that foreshadowed that bitcoin had taken yet another....
"We’ve got a lot of casinos here in the Wild West, and the poker chip is these stablecoins at the casino gaming tables," said Gary Gensler. U.S. Securities and Commission, or SEC, chair Gary Gensler has doubled down on his “Wild West” analogy for cryptocurrencies, calling stablecoins instruments for gambling at old-timey casinos. Speaking to Washington Post columnist David Ignatius on Tuesday, Gensler said most projects in the crypto space dealt with securities that fall under the regulatory purview of the SEC, while the Commodity Futures Trading Commission, or CFTC, was better suited for....