Regulation
EBA sets final rules for MiCA regulation!
1:00 p.m. ▪ 3 min reading ▪ by Eddy S.
The European Banking Authority (EBA) has finalized the MiCA (Markets in Crypto-Assets) regulatory framework! Establish uniform market rules for crypto within the European Union. This regulatory framework covers cryptoassets that were not regulated by existing financial legislation.
MiCA: The EBA finalizes regulations at European level!
The European Union has taken a decisive step in the regulation of cryptocurrencies with the finalization of the MiCA framework by the EBA. This framework establishes harmonized rules for crypto-assets at EU level. It thus provides legal certainty for digital assets not covered by existing legislation.
Additionally, the EBA will facilitate the monitoring and assessment of cryptoassets and emerging use cases across countries. the European Union. Thanks to enhanced monitoring, the EBA can equip itself with the necessary information to ensure effective application of MiCA requirements! In addition, it will monitor new or emerging activities that may fall outside its scope but may warrant future inclusion.
The crypto regulatory revolution in Europe!
MiCA represents an important step towards regulating crypto markets. It proposes a harmonized and dedicated approach at the level of the European Union. And this, with specific rules for cryptocurrencies and related activities and services. In addition, the MiCA harmonized framework regulates cryptocurrency-related services that are not yet covered by European legislation.
The MiCA regulations therefore aim to support market integrity and financial stability by regulating public offerings of crypto-assets. But also by ensuring that consumers are better informed of the associated risks. During the implementation phase of MiCA, ESMA (in close cooperation with EBA, EIOPA and ECB) is consulting the public on a series of technical standards which will be published in three batches. The objective is to propose draft measures that meet the public’s demands.
Finally, this regulatory framework is a first in the EU. MiCA will be directly applicable in all Member States, including Malta, without requiring national transposition. This marks an important step in recognizing crypto as an integral part of the financial system and protecting investors in the digital space.
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. In order to share my experience and raise awareness of a field that fascinates me, there is nothing better than writing articles that are informative and relaxed at the same time.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.