Regulators come for the crypto kings
This year will be remembered as the one in which Europe’s regulators moved in on cryptocurrencies, ushering in the dawn of a newly regulated asset class after a decade-and-a-half of wild experimentation.
The wild child of digital finance is being brought to heel. Brussels, the centre of power in the EU, gave birth to the world’s first piece of formal regulation on crypto in June. Its Markets in Crypto-Assets Regulation (MiCA) aims to provide a framework of “consistent and effective standards” across the bloc.
Crypto issuers will need to: register with authorities; provide complete and transparent information about whatever crypto assets they issue; comply with disclosure and transparency rules; and set up security and anti-money laundering measures.
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