The European Union postponed the MiCA (Crypto Asset Markets Law) legislation regarding the legal regulations to be brought to the crypto money market until February 2023.
A spokesperson for the European Parliament told CoinDesk, MiCA legislation February 2023 He stated that they would not vote until the next month. In this new statement made by the spokesperson, it was stated that the parliament postponed the MiCA plans. From an earlier tentative plan for voting at the general assembly in December, “length and complexity of the text” taken into account, it was abandoned.
The postponed bill means an uncertain process for companies that are waiting for regulation and approval, and even go to internal restructuring in this direction. TerraUSD in order to prevent a collapse stablecoins The political draft of the legislation laying down the reserve requirements was approved in June and the final text was made public in October. But this text has to be formally signed by both parliamentarians and the national governments that make up the European Council.
If the legislation in question is approved, the crypto on money transfers In addition to the rules, different constructive regulations will be introduced to wallet providers, such as the requirement to control customers’ information, in order to reduce money laundering.