MiCA is coming: European crypto regulation

By KMatt | Blogging Crypto | 1 Apr 2024

The Crypto-Asset Markets Regulation was approved on 14 March 2023 by the European Parliament and will come into force on 30 December 2024, with some exceptions for asset tokens and e-money tokens, which will be applied starting from 30 June 2024 .

The complete regulatory framework will be divided into three categories of crypto-assets:

- Payment tokens such as Bitcoin and Ethereum

- Utility tokens: such as those used to access a service or platform (for example BAT from Brave Browser, CHZ from Chiliz, MANA for Decentraland and others).

- Investment tokens: such as those that offer rights to an underlying asset.

The regulation establishes requirements for the issuance, offering and trading of cryptocurrencies, as well as related services, such as custody and exchange. It also introduces rules for the protection of investors and the prevention of money laundering and terrorist financing.

The expected impact

According to the recent Bitget Research report, MiCA could have a positive impact on cryptocurrencies and its adoption by private investors.
The reasons may be the trust and security that new regulations would provide, or the promotion of innovation by creating a more favorable environment for the crypto sector. Finally, it could increase liquidity by pushing the entry of institutional investors.

MiCA will also impact cryptocurrency trading. Trading platforms will need to comply with the regulation's requirements, which include:

- Obtaining a license from the competent authorities.

- Implementation of investor protection measures.

- Prevention of money laundering and terrorist financing.

All this could lead to an increase in costs for trading platforms, which could consequently increase commissions, at the price of using a more secure and transparent platform.


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