Europe is targeting crypto influencers and influencers with its new MiCA clause. The crypto community is questioning why the clause doesn’t apply to stocks and other financial markets.
MiCA targets crypto influencers and influencers!
Some clauses of the EU’s Crypto Asset Markets (MiCA) bill point to strict regulation. So, it is possible that it will significantly influence crypto influencers. Patrick Hansen, Circle’s director of EU strategy and policy, points to this, saying that commenting on a digital asset and profiting from it without disclosure can be called market manipulation.
Patrick Hansen shared the screenshot of the relevant part. Here are the following statements:
Having previously taken a position for a cryptocurrency, occasionally or regularly posting to traditional or electronic media by expressing an opinion about it, without simultaneously disclosing this conflict of interest to the public in an appropriate and effective manner, and then expressing the influence of the expressed opinions on the price of that cryptocurrency. take advantage of its effect.
The article is vague and leaves room for multiple interpretations. However, it shows that the EU can take action against those who promote crypto assets without disclosing their interests in the asset. The bill sparked mixed reactions from the community. While many describe it as helpful in fraud prevention, others have criticized it. Because its app leaves a lot of room for abuse. Questions have also been raised as to why it applies to cryptocurrencies and not stocks and other financial markets.
Regulators around the world are paying more and more attention to crypto influencers. cryptocoin.comAs you follow on, the US SEC recently fined Kim Kardashian $1.26 million for the undisclosed EthereumMAX (EMAX) promotion.
Meanwhile, the MiCA bill is not expected to become law until 2024. Regulators argue that the rules ensure consumer protection. However, members of the crypto community note that regulation will transform DeFi into yet another traditional financial system.
EU needs MiCA to be a big player in crypto
EU’s MiCA Rapporteur Dr. Stefan Berger says regulation is necessary if Europe wants to become a big player in the crypto game.
According to Berger, the arrangement will create trust between the venue and the organizers. It will also provide an enabling environment for companies to innovate. Lidia Pereira, a member of the European Parliament, says that blockchain technology can be used to combat money laundering and even tax evasion due to the public and permissionless nature of the technology.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.