Regulation
EBA sets final rules for MiCA regulation!
1pm ▪ 3 minute read ▪ by Eddy S.
The European Banking Authority (EBA) has finalized the MiCA (Markets in Crypto-Assets) regulatory framework! Establish uniform market rules for cryptocurrencies within the European Union. This regulatory framework covers crypto-assets that were not regulated by existing financial legislation.
MiCA: EBA finalizes regulation at European level!
The European Union has taken a decisive step in regulating cryptocurrencies with the EBA’s finalization of the MiCA framework. This framework establishes harmonized rules for crypto-assets at EU level. It therefore offers legal certainty for digital assets not covered by existing legislation.
Furthermore, the EBA will facilitate the monitoring and evaluation of emerging crypto-assets and use cases in general the European Union. With strengthened monitoring, the EBA can equip itself with the necessary information to ensure the effective application of the MiCA requirements! It will also monitor new or emerging activities that may not fall within its scope but may warrant future inclusion.
The regulatory revolution on cryptocurrencies in Europe!
MiCA represents a significant step towards the regulation of cryptocurrency markets. It offers a harmonized and dedicated approach at European Union level. And this, with specific rules for cryptocurrencies and related activities and services. Furthermore, the MiCA harmonized framework regulates cryptocurrency-related services that are not yet covered by EU legislation.
The MiCA regulation therefore aims to support market integrity and financial stability by regulating public offerings of crypto-assets. But also ensuring that consumers are better informed about the associated risks. During the implementation phase of MiCA, ESMA (in close cooperation with EBA, EIOPA and ECB) consults the public on a set of technical standards which will be published in three batches. The aim is to provide a draft of measures that meet public needs.
Finally, this regulatory framework it is the first in the EU. MiCA will be directly applicable in all Member States, including Malta, without the need for national transposition. This marks an important step in recognizing cryptocurrencies as an integral part of the financial system and protecting investors in the digital space.
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Eddy S.
The world has evolved and adaptation is the best weapon to survive in this wavering universe. The crypto community manager at the base interests me in everything that touches or comes close to the blockchain and its derivatives. With a view to sharing my experience and getting to know a domain that I am passionate about, I find myself writing informative and décontractés a la fois articles.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.