MiCA: the good, the bad and the ugly of European crypto rules
The regulatory framework for crypto-asset markets in the European Union isn't entirely good, but it provides an alien level of clarity to that of the United States.
Notice Join us on social networksWhile U.S. regulators such as Securities and Exchange Commission Chairman Gary Gensler make bad faith claims that “things have been clear for years” when it comes to cryptocurrency, the European Union has taken steps to concrete steps in April when it embraced the cryptocurrency market. -Asset Regulatory Framework (MiCA). While not perfect, this is a crucial step in the right direction for our industry and a signal to the United States that they will be left behind if they continue to stand still and lean on outdated regulations.
In the same way that Bitcoin (BTC) used old technological, economic and financial concepts to create something new, regulators must rework existing regulatory and financial security frameworks to create a successful environment for attendees. There are many useful and valuable elements in our existing financial and regulatory frameworks.
Related: An ETF will bring a revolution for Bitcoin and other cryptocurrencies
On the other hand, the blockchain industry poses many problems that the traditional regulatory framework does not sufficiently address. This leads to frustration and wasted resources as lawyers bicker over potential interpretations of statements instead of adhering to clearly defined legislation.
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Although the practical applications of Web3 have shown great potential, it is still a remix of this traditional financial system, although it is a remix dedicated to improving efficiency, openness and fairness for all participants.
MiCA: a necessary but mediocre progress for regulationDespite the complex language surrounding financial and securities regulations, the...
The regulatory framework for crypto-asset markets in the European Union isn't entirely good, but it provides an alien level of clarity to that of the United States.
Notice Join us on social networksWhile U.S. regulators such as Securities and Exchange Commission Chairman Gary Gensler make bad faith claims that “things have been clear for years” when it comes to cryptocurrency, the European Union has taken steps to concrete steps in April when it embraced the cryptocurrency market. -Asset Regulatory Framework (MiCA). While not perfect, this is a crucial step in the right direction for our industry and a signal to the United States that they will be left behind if they continue to stand still and lean on outdated regulations.
In the same way that Bitcoin (BTC) used old technological, economic and financial concepts to create something new, regulators must rework existing regulatory and financial security frameworks to create a successful environment for attendees. There are many useful and valuable elements in our existing financial and regulatory frameworks.
Related: An ETF will bring a revolution for Bitcoin and other cryptocurrencies
On the other hand, the blockchain industry poses many problems that the traditional regulatory framework does not sufficiently address. This leads to frustration and wasted resources as lawyers bicker over potential interpretations of statements instead of adhering to clearly defined legislation.
/p>
Although the practical applications of Web3 have shown great potential, it is still a remix of this traditional financial system, although it is a remix dedicated to improving efficiency, openness and fairness for all participants.
MiCA: a necessary but mediocre progress for regulationDespite the complex language surrounding financial and securities regulations, the...
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