The European Union’s Markets in Crypto Assets Regulation (MiCA) could prove transformative, CoinDesk has been told, even if some in the industry query whether it will meet its goals of offering a single, clear rulebook for the 27-nation bloc.
MiCA would require crypto companies to register with the authorities, to hold sufficient capital to steady stablecoins and to offer clear and fair information to budding investors – and its text is, after many years, now almost finalized.
Originally designed to regulate crypto actors like issuers and wallet providers in an era where initial coin offerings, including scams, were rife, the draft bill evolved alongside innovations in the sector.
Between conception and completion, new provisions were inserted or contemplated to deal with the defunct Facebook-backed currency project Libra, later renamed Diem; the energy use of bitcoin mining; the rise of non-fungible tokens (NFTs); decentralized finance (DeFi); and algorithmic stablecoins like the...
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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...