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what does it mean for stablecoins?
The post what does it mean for stablecoins? appeared on BitcoinEthereumNews.com. On June 30, 2024, the regulation “Markets in Crypto Assets” (MiCA) will officially come into effect within the European territory, and significant measures will be introduced to curb the expansion of stablecoins managed from overseas in order to favor those local ones correlated to the EURO. The leading exchanges of the continent such as Binance, OKX, and Kraken have already prepared for the regulatory change and have revised some of the products offered to their customers in Europe. All this could, however, limit the technological expansion of the Union in the crypto sector, leading to a general regression rather than growth. Let’s delve deeper into the topic in this article. MiCA and stablecoin: the crypto regulation that limits electronic money issuers will come into effect on June 30 On October 10, 2023, the regulation “Markets In Crypto Assets” (MiCA) was approved by the European Parliament with a favorable vote of 28 members, and now it is about to come into force, officially marking the introduction of the first EU regulation that governs the crypto sector. The topics present in the new Text are aimed at a wide range of subjects operating in the industry, such as issuers of crypto-assets, providers of services related to crypto-assets (CASP), and cryptographic exchange platforms, addressing key issues such as consumer protection, new obligations for anti-money laundering, environmental impact, and corporate social responsibility. An entire section of the regulation is, however, dedicated exclusively to the world of stablecoins, more precisely in relation to the issuers of e-money token (EMT), that is, a specific type of crypto-asset that aims to maintain a stable value by referring to the value of an official currency. This definition distances itself from that of asset-referenced token (ARTs) which identifies crypto-assets aimed at maintaining a value relative to the combination of…
The post what does it mean for stablecoins? appeared on BitcoinEthereumNews.com.
On June 30, 2024, the regulation “Markets in Crypto Assets” (MiCA) will officially come into effect within the European territory, and significant measures will be introduced to curb the expansion of stablecoins managed from overseas in order to favor those local ones correlated to the EURO. The leading exchanges of the continent such as Binance, OKX, and Kraken have already prepared for the regulatory change and have revised some of the products offered to their customers in Europe. All this could, however, limit the technological expansion of the Union in the crypto sector, leading to a general regression rather than growth. Let’s delve deeper into the topic in this article. MiCA and stablecoin: the crypto regulation that limits electronic money issuers will come into effect on June 30 On October 10, 2023, the regulation “Markets In Crypto Assets” (MiCA) was approved by the European Parliament with a favorable vote of 28 members, and now it is about to come into force, officially marking the introduction of the first EU regulation that governs the crypto sector. The topics present in the new Text are aimed at a wide range of subjects operating in the industry, such as issuers of crypto-assets, providers of services related to crypto-assets (CASP), and cryptographic exchange platforms, addressing key issues such as consumer protection, new obligations for anti-money laundering, environmental impact, and corporate social responsibility. An entire section of the regulation is, however, dedicated exclusively to the world of stablecoins, more precisely in relation to the issuers of e-money token (EMT), that is, a specific type of crypto-asset that aims to maintain a stable value by referring to the value of an official currency. This definition distances itself from that of asset-referenced token (ARTs) which identifies crypto-assets aimed at maintaining a value relative to the combination of…
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