The European Parliament Committee on Economic and Monetary Affairs (ECON) on 10 October approved the Markets in Crypto-Assets (MiCA) framework. It was only in the last week that the European Council approved the final text of MiCA. Stefan Berger, a member of the ECON, confirmed the news on Twitter. The MiCA legislation has been arrived […]
The MiCA legislation has been arrived at as a result of negotiations between the EU Council, the European Commission, and the European Parliament.
Committee members passed the crypto framework policy in a vote of 28-1. A final vote on the legislation is expected in the European Parliament soon.It was in September 2020 that the proposal was first introduced to the European Commission. When in effect, MiCA would be the guiding framework behind crypto-related rules being framed in 27 member states of the EU.
Once it is finally passed in the parliament following legal and linguistic checks, MiCA could come into effect beginning 2024. Berger“MiCA is a European success. We are the first continent to have a crypto-asset regulation. In the Wild West of the crypto-world, MiCA will be a global standard setter.
As per MiCA, stablecoin companies would be restricted on how many tokens they can issue if they are not denominated in euros or other currencies used by EU member states. Energy consumption by mining companies is also a big issue in the MiCA framework. Such entities would be required to disclose their energy consumption.a provisional deal on anti-money laundering that is directed at having compliance standards for crypto assets in an effort to crack down on money laundering.Subscribe to get it daily in your inbox.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OECD reveals its new Crypto-asset Reporting FrameworkThe OECD has published its finalized framework for crypto tax reporting that aims to cut down on tax evasion using digital assets and increase transparency.
Read more »
Member of Parliamentary committee applauds Skinner's resignation from Hockey CanadaA member of Parliament says that more members of Hockey Canada's leadership group should resign.
Read more »
![Brazil: USDT, Bitcoin [BTC], and…? New crypto-declarations suggest…](https://i.headtopics.com/images/2022/10/10/cryptoamb/brazil-usdt-bitcoin-btc-and-new-crypto-declaration-brazil-usdt-bitcoin-btc-and-new-crypto-declaration-1579517868928282626.webp?w=640)
Brazil: USDT, Bitcoin [BTC], and…? New crypto-declarations suggest…In what is a major development, the latest figures associated with crypto-declarations have been released by Receita Federal do Brasil (RFB), Brazil’s leading tax authority. The numbers reveal that crypto-popularity is on the rise in the South American country. Under Brazilian law, entities are required to declare information about activities related to crypto. The declarations […]
Read more »
LBank receives the “Most Trusted Crypto Exchange” at Asia’s Premier eventLBank, a top crypto exchange, has been named the Most Trusted Crypto Exchange at the CryptoExpo Dubai 2022 event. “We are truly honored to be recognized by Crypto Expo Dubai as the most trusted exchange. This award represents all LBank stands for, our commitment to providing users with a safe and secure trading ground,” said […]
Read more »
Crypto-lender TrueFi issues default notice to Blockwater over $3.4M loanDeFi lending company TrueFi has issued a notice of default to South Korea-based Blockwater Technologies over the latter’s failure to repay an unsecured loan of $3.4 million. The notice was issued on 6 October, although TrueFi did not make that information public until today. The 3.4 million BUSD loan was originally granted on 7 May […]
Read more »
Man banned eight years, must pay $165K after WhaleClub crypto investment goes bustAn Alberta cryptocurrency promoter who set up an investment service he termed the WhaleClub has been banned from trading for at least eight years and ordered…
Read more »