NewsletterNew Crypto Rules In Europe: A Global Standard For Regulation?
At a time when there is rising demand for strict crypto regulation, European authorities agreed on a set of rules. The Economic and Monetary Affairs Committee negotiators struck a provisional political agreement with the Council on new rules on crypto-assets.
Europe’s New Crypto Rules Provide Transparency
The Markets in Crypto-Assets (MiCA) rules will introduce provisions on supervision, consumer protection and environmental safeguards for crypto-assets. Among the key provisions agreed are applicable for those issuing and trading crypto-assets. The rules cover transparency, disclosure, authorization and supervision of crypto transactions.
The new MiCA rules mandate crypto players to inform consumers about risks, costs and charges associated with crypto. Also, the new legal framework will support market integrity and financial stability by regulating public offers of crypto-assets.
However, there is no full clarity with respect to aspects like NFTs, DeFi, and stablecoins. Patrick Hansen, a crypto enthusiast, said investors would still need to look for further clarity on those aspects.
“There is not 100% clarity on all the aspects yet, so please take these points with a grain of salt.”
MiCA, A Global Standard Setter For Crypto Regulation
Stefan Berger, a member of the European People’s Party, said MiCA rules were a European success. We are the first continent to have a crypto-asset regulation, he added.
“In the Wild West of the crypto-world, MiCA will be a global standard setter. MiCA will ensure a harmonized market, provide legal certainty for crypto-asset issuers, guarantee a level playing field for service providers and ensure high standards for costumer protection.”
Berger stated that tokenization will be as ground breaking for the financial world as the introduction of the joint market was in the 17th century. With the MiCA regulation, reliable authorization and supervisory structures for new tokens are now being created for the first time, he added.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- UK Follows U.S. Lead in Adoption, Grants Crypto Full Legal Property Status
- Breaking: 21Shares Amends Dogecoin ETF Filing to Reveal Fees & Other Details
- Franklin Solana ETF Set to Begin Trading Amid NYSE Arca Listing Approval
- Breaking: US SEC Deliberates on Approving FLEX Options on BlackRock Bitcoin ETF (IBIT)
- Crypto ETF News: SEC Blocks 3x and 5x ETF Filings, Calls for Major Changes or Withdrawal
- Litecoin Price Jumps 10% as Vanguard Opens LTCC Access — How High Can LTC Go?
- Pepe Coin Jumps 14% on Double Bottom Signal Amid Market Recovery — Is a 50% Rally in Sight?
- Hedera Price Surges 10% After Canary Capital HBAR ETF Goes Live on Vanguard
- Bitcoin Price: What’s Next For BTC After Fed Chair Jerome Powell’s Speech?
- XRP Price Slowly Forms a Rare Pattern as Ripple ETFs Near $1B Milestone
- Chainlink Price Eyes More Recovery After Grayscale’s Spot ETF Launch
