Bitcoin (BTC) and cryptocurrencywhich constitute the main framework of the status of the European Unions in Europe and the regulations that may be encountered in the future. European Crypto Asset Markets (MICA) Regulations continue to evolve.
The final vote of MICA in the European Parliament, which was accepted at the European Council in October, was postponed to 2023 due to the technical and lengthy text.
While waiting for the vote to take place in the parliament, evaluations regarding MICA came from EU lawmakers within the scope of the FTX bankruptcy and the events that followed.
Some lawmakers said in a statement today that MICA will stop FTX-style mismanagement.
Noting that the bankruptcy of FTX has led to calls for crypto companies to obtain the necessary permits and authorizations and to toughen the rules for crypto companies, lawmakers said, “Although MICA will not be in effect for a few more years, the rules it contains will help prevent incidents like FTX.” said.
Alexandra Jour-Schroeder, Deputy Director General of Financial Affairs of the European Commission, said the following about MICA:
“I consider failures in FTX such as poor record keeping and misuse of client assets to be very serious and potentially fraudulent.
However, I do not see this as the failures of blockchain technology or cryptocurrencies.
We will take a step forward regarding MiCA, but I do not expect a renegotiation that will shorten the currently anticipated 12-18 months for MICA preparation for implementation.”
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