Regulation
MiCA changes in the EU
The European Union’s Markets in Crypto-Assets (MiCA) regulation is set to bring significant changes to the cryptocurrency landscape. This regulation aims to create a standardized regulatory framework, ensuring transparency, protecting investors and preventing market manipulation.
As part of these changes, starting June 30, 2024, some stablecoins will no longer be available for new trades and in yield accounts in the EU. This update affects all brokers and aims to maintain a level playing field across the industry.
What is MiCA?
MiCA, or Cryptocurrency Markets Regulation, is a new set of regulations introduced by the European Union to establish a comprehensive framework for the cryptocurrency market. The main objectives of MiCA are:
- Ensure transparency: Implement clear rules and requirements for crypto-assets to improve market integrity.
- Protect Investors: Provide greater safety and security to individuals investing in crypto-assets.
- Prevent market manipulation: Create measures to prevent fraudulent activities and ensure fair market practices.
Impact on stablecoins
Starting from June 30, 2024, some stablecoins will be affected by the new MiCA regulation. Some stablecoins will no longer be available for new operations in the EU, including participation in yield accounts. We will soon share the exact stablecoins that will be affected. This change will affect all EU residents who have passed KYC as EU residents.
YouHodler and MICA
We at YouHodler are committed to turning these regulatory changes into opportunities for our clients. Our goal is to continue to provide competitive and advantageous solutions in the evolving cryptocurrency market. We see these changes as an opportunity to improve our offering and provide even better services to our customers.
What’s next?
We understand that these changes may raise questions and we are here to help you navigate this transition smoothly. We will soon provide detailed information on how YouHodler plans to adapt to these new regulations and what opportunities will be available to our customers.
Adapting to MiCA regulations is a step towards a clearer and safer cryptocurrency market. We at YouHodler are committed to ensuring that you benefit from these changes. Stay tuned for more updates and information on how we will continue to support you in the evolving world of cryptocurrency.
Best regards,
The YouHodler team