Crypto assets The European Crypto Asset Markets (MICA) regulation, which constitutes its status in Europe and the main framework of the regulations that may be encountered in the future, was accepted at the European Council this morning.
Another stage has been completed for the regulation, which is expected to enter into force in 2024 at the earliest.
After the approval of the European Council, the regulation will be voted once again in the European Parliament. This vote is expected to take place next week on October 10.
After the vote on 10 October, the text will be translated into more than 20 official languages and published in the EU Official Journal for formalization.
European countries will be given a period of 12-18 months to make the necessary legal arrangements for MiCA compliance. However, the laws are expected to enter into force in 2024 at the earliest.
While the regulation was generally welcomed as a framework text and not overly restrictive, restrictions on non-euro stablecoins caused some concerns.
It seems that the changes in monetary policy and the conflict between the euro and the dollar will also make itself felt on crypto money regulations.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!