Binance Founder and CEO Changpeng “CZ” Zhao reportedly said the European Union's proposed regulation of cryptocurrency is “fantastic,” though he does have some reservations about it.
Speaking Wednesday (Sept. 14) at the Binance Blockchain Week event in Paris, the crypto exchange leader said the proposed EU regulation called Market in Crypto Assets (MiCA) is “a little bit strict” on stablecoins, CoinDesk reported Wednesday (Sept. 14).
“The drafts are not adopting USD-based stablecoins, which have 75% of the liquidity in the market,” Zhao said at the event, per the report.
Nevertheless, Zhao added that he expected other jurisdictions outside the EU to copy MiCA, according to the report.
PYMNTS reported Aug. 23 that MiCA’s provisions overseeing stablecoins have been particularly controversial, most notably when it comes to a cap on the use and issuance of large, non-euro-denominated stablecoins.
That aside, one basic principle is not too dissimilar from U.S. proposals: Stablecoins will...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...