The MiCA framework suggested a roughly 18-month timeline to fully take effect, with regulators and lawmakers seeming to go through proposals aimed at ensuring a smooth implementation. The European Union’s financial watchdog will launch a three-part consultation process for the recently adopted Markets in Crypto-Assets framework, or MiCA. In a notice posted to the European…
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Unlike in the United States where authorities are cracking down on the crypto industry, the regulations governing the industry are “more clearly defined and commercially viable in markets like Hong Kong, Singapore, and the UAE,” Stephan Lutz, the group CEO and CFO of the crypto exchange Bitmex, has said. U.S. Crackdown Driving Away Talent In…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Google Cloud Offers Certain Customers Up To $1M for Cryptomining Attacks, Countdown Until MiCA Enters into Effect Officially Starts, Hong Kong to Lay Foundations to Implement Retail CBDC…
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First introduced in 2020, MiCA aims to create a consistent regulatory framework for crypto assets among the European Union member states. Officials with the European Union have signed the Markets in Crypto-Assets, or MiCA, bill into law following final approval from finance ministers. On May 31, Sweden’s minister for rural affairs, Peter Kullgren, and European…
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The European Securities and Markets Authority (ESMA) has issued a warning regarding investments in assets like cryptocurrencies. They will remain unregulated in most countries until the EU’s Markets in Crypto Assets (MiCA) law is enforced across the Union, the regulator pointed out. ESMA Highlights Risks Related to Unregulated Products and Services for Crypto and Other…
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Bakkt’s chief product officer, Dan O’Prey, expressed his optimism about the future of Bitcoin and the company’s outlook on regulated markets when he chatted with Cointelegraph at Bitcoin 2023. The international regulatory environment for cryptocurrency is improving, and the company is eyeing a retail expansion on the continent, Bakkt chief product officer Dan O’Prey said.…
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The Council of the European Union has given its final approval to new regulations for crypto assets and markets in the EU. The decision completes a lengthy and complex legislative process for what’s considered to be the world’s first comprehensive legal framework for digital assets like bitcoin. EU Finance Ministers Give Final Nod to Markets…
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Republican leader at the US Securities and Exchange Commission said Europe’s legislation to regulate cryptocurrency could be a model as the country grapples with how to write rules for the industry. SEC Commissioner Hester Peirce, also nicknamed “Crypto Mom,” spoke at a Financial Times live event this week. “MiCA can serve as a model for…
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The European Union’s Markets in Crypto-Assets regulation could stifle innovation and increase compliance costs for the crypto industry. The European Union has become the first major jurisdiction to pass a comprehensive crypto law, the Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty for the crypto industry and investors by establishing standard regulations…
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Estonia’s money laundering regulator highlighted a number of issues it found within local crypto firms, such as dodgy execs and nonsensical business plans. Almost 400 Virtual Asset Service Providers (VASPS) have voluntarily shut down or had their authorizations revoked in Estonia following the government’s recently enhanced Terrorist Financing Prevention and anti-money laundering laws (AML) that…
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