EU Landmark Crypto Law

Discussion in 'Crypto Assets' started by Nobert, Jun 16, 2022.

  1. Nobert

    Nobert

    https://www.bloomberg.com/news/arti...clinch-deal-on-landmark-crypto-law-this-month

    EU Aims to Clinch Deal on Landmark Crypto Law This Month
    • France, EU Parliament are optimistic about agreement on MiCA
    • Negotiators still split on a few areas, such as including NFTs

    Jorge Valero and
    Alberto Nardelli

    June 10, 2022, 4:17 PM GMT+2

    The European Union is nearing an agreement on key legislation to regulate the cryptocurrency sector that would set common rules across the 27 member states, people familiar with the matter said.

    France, which currently chairs the EU, and the European Parliament are optimistic about resolving remaining issues holding up the Markets in Crypto-Assets (MiCA) package and reaching a deal this month, according to the people. Negotiators are expected to meet on June 14 and June 30.

    MiCA, first presented in 2020, will put European regulators at the forefront of supervising cryptocurrencies by creating unified rules across the $17 trillion economy. Addressing issues such as investor protection and crypto’s impact on financial stability has taken on added urgency after last month’s collapse of the TerraUSD algorithmic stablecoin.

    Read more: SEC Investigating UST Stablecoin Blowup in Fresh Threat to Terra

    Member states and the parliament still disagree on several key aspects of MiCA. According to the people, areas of disagreement include:

    Whether to include nonfungible tokens in the new set of rules
    How to regulate significant stablecoins
    Supervision of the largest crypto-asset service providers, or CASPs

    Both sides are also discussing how to limit the use of stablecoins as a payment method by introducing a ceiling, in particular for transactions not denominated in euros, the people said, asking not to be identified discussing confidential information.
     
    guest_trader_1 likes this.
  2. Dont regulate it yet. Not enough damage to the innocent has be achieved
     
    Nobert likes this.
  3. Nobert

    Nobert

    It will take 2 or 3 yrs to get implemented.
    BTC still has time, to, finally, reach that million.
     
    JackMorgan likes this.
  4. In February a ban on cryptocurrencies, that relied on mining practices with a heavy carbon footprint, was removed from the initial MiCa bill...
     
  5. Nobert

    Nobert

    ,,The French presidency is willing to accept the European Commission’s proposal to disclose the energy consumption of CASPs, according to the people. In addition, members of parliament want the EU executive’s arm to produce technical standards for such disclosures, along with a review clause."
     
  6. There's still plenty of damage to be done.

    Screenshot_20220617-114824~2.png
     
    Nobert likes this.
  7. Nobert

    Nobert

    There's like a new superstar crypto coin every week and each one ends up in fools loosing money.
    Einstein was right.
     
  8. RedDuke

    RedDuke

    begging is never a good sign. Their chief loan officer is ex porn star. When I saw this initially I thought it was a joke, but no it is actually true. Crypto world never sizes
    To amaze :D
     
    Nobert likes this.
  9. Ed48

    Ed48

    A previous career of screwing people. Perfect for the job. :D
     
    KCalhoun, Nobert and RedDuke like this.