EU Council passes bill on crypto regulation
Now the document must be approved by the European Parliament
06.10.2022 - 12:10
465
2 min
0
What’s new? The Council of Ministers of the European Union member states finally approved the Markets in Crypto Assets (MiCA) bill, now it must be approved by the European Parliament. The document is expected to be formally approved on October 10 and enter into force in 2024. MiCA suggests that crypto service providers will have to comply with rules aimed at protecting the interests of users.
More details about MiCA. All projects related to digital assets are required to warn of potential investment risks. Trading platforms, such as exchanges, must be licensed to operate by the regulator, which will be the European Securities and Markets Authority (ESMA).
MiCA requires companies that provide digital asset custody services to verify the identities of their customers as part of anti-money laundering (KYC/AML). The document will also limit trading in non-euro-backed stablecoins to €200 million per day. Among other things, MiCA will equate non-fungible tokens (NFTs) with securities.
In September, Changpeng Zhao, CEO of cryptocurrency exchange Binance, said that the EU's Markets in Crypto-Assets Regulation would become a “global regulatory standard copied around the world.”
In June, Christine Lagarde, head of the European Central Bank (ECB), noted that a second regulation similar to the MiCA was needed to strengthen the regulation of bitcoin and decentralized finance (DeFi).
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$96 774
BTC
+2%
-
Ethereum
$3 282.81
ETH
+4.81%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.11
XRP
-1.26%
-
Dogecoin
$0.381509
DOGE
-2.95%
-
Cardano
$0.780213
ADA
-6.85%
-
Bitcoin Cash
$478.44
BCH
+5.87%
-
Polkadot
$5.78
DOT
-2.57%
-
Stellar XLM
$0.237783
XLM
-9.06%
-
Litecoin
$88.3
LTC
+2.02%