MiCA crypto regulation is coming to the European Union. Voted in by member states of the European Parliament, the measures will hopefully bring some much-needed clarity to how the crypto market is controlled.
After devastating failures like the LUNA and FTX collapses in the blockchain industry throughout 2022, MiCA aims to protect market participants. The new regulatory framework aims to improve consumer protection and hold crypto asset issuers and service providers more accountable.
Amidst rumors of Coinbase searching for a new legal home, the EU Parliament’s new rules are expected to pioneer a wave of change across the globe.
What exactly is covered by the scope of MiCA? Will Europe’s crypto asset regulation change how we use DeFi and NFTs? When will the European Commission start enforcing the changes?
What is MiCA Regulation?
MiCA (Markets in Crypto Assets) is a financial services legislation that aims to consolidate how digital assets are regulated across multiple European jurisdictions. It gives lawmakers across Europe a consistent set of rules for governing cryptocurrency stored on a distributed ledger (DLT) or similar technology, like a blockchain or DAG (directed…
