• Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
What's Hot

How Rising Tobacco Prices are Affecting Smoking Cessation Around the World

March 8, 2023

Is it possible to buy NFT and help the Ukrainian army at the same time?

February 17, 2023

Ukraine Stands Strong: The SpendWithUkraine.com Initiative

February 2, 2023
Facebook Twitter Instagram
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
Home»Crypto»The MiCA is a reality
Crypto

The MiCA is a reality

Donald MunnBy Donald MunnAugust 21, 2022Updated:September 29, 2022No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

In America, there has been a move toward stringent regulation, but this varies from state to state and is unique only in its general layout. 

China and Australia, on the other hand, have had a contrary path at first of openness on the part of the rising sun and closure on the part of Australia then it went in the opposite direction with Australia ready to welcome new resources and China dedicated to a witch hunt that only fueled the Deep Web and the exchanges carried out on it. 

Brazil is still waiting for its own regulation but all indications are that the direction taken is very loose and leaves hands and feet free for the new industry but what do we know about Europe? 

For a few years, the discussion stalled as other priorities took over such as Brexit, the Pandemic and now the geopolitical crisis and hyperinflation but finally after several steps between the parties involved a basic framework has been arrived at not without hiccups. 

Parliament, the Council and the European Commission last month signed the MiCA or MICAR (Market in Crypto Asset Regulation), which is the framework law to regulate this complex world. 

The doubts to be cleared in recent months were about NFTs and how they should be considered (whether on par with cryptocurrencies or differently) and about ETFs another much-discussed but common tool around the world. 

Stefan Berger himself who chaired the report on the MiCA recently stood out for selling NFTs he created by announcing it on Twitter wanting to raise awareness of acceleration to bring to fruition this milestone work necessary for the economy of the 27 member countries. 

In addition to the anti-money laundering law found in the Transfer of Fund Regulation, the EBA (i.e., the European Banking Authority) will have to draw up a list, (a sort of register) of crypto-compliant operators.

Stablecoins will be subject to extensive checks in terms of solvency and security, and NFTs will be excluded from the MiCA for now and will be regulated by subsequent regulation. 

Proof of Work and tokens that take their characteristics will be authorized but subject to more stringent controls than Proof of Stake. 

Despite Brexit, Britain still has framework agreements that in the European context it is obliged to respect and adopt subject to reservations, in this specific case it has indicated that it will not adhere to the framework law and will adopt its own ad hoc legislative framework that is rumored to be more friendly among insiders. 

The post The MiCA is a reality appeared first on cryptodailynews24.com.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Donald Munn
Donald Munn
  • Website

Related Posts

The best PR films to inspire your crypto marketing strategy

January 2, 2023

Japan: tax breaks proposed for crypto investors

September 1, 2022

Bitcoin may have hit its low after Powell’s speech

September 1, 2022

Ripple’s plans to tokenize land in Colombia did not take off

September 1, 2022
Add A Comment

Comments are closed.

Advertisement
Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

The latest news about Bitcoin, ICO, blockchain and fintech.

Top Insights

How Rising Tobacco Prices are Affecting Smoking Cessation Around the World

March 8, 2023

Is it possible to buy NFT and help the Ukrainian army at the same time?

February 17, 2023

Ukraine Stands Strong: The SpendWithUkraine.com Initiative

February 2, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
© 2023 cryptodailynews24.com Submit news release

Type above and press Enter to search. Press Esc to cancel.