Monday, March 20, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News cryptocurrency

European Union Postpones Its Final Vote On MiCA Regulation; Here’s Why

news by news
January 17, 2023
in cryptocurrency, European Union, FTX collapse, MiCA, News
0
European Union Postpones Its Final Vote On MiCA Regulation; Here’s Why
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Breaking: Republic Of China Announces Crypto Regulatory Body

Just-In: Bitcoin Ready To Hit $1 Million; Arthur Hayes Bullish Over This Reason

European Union

European Union News: The European Union’s landmark new legislation, the Markets in Crypto Assets Regulation (MiCA), has been delayed due to technical issues. However, the final vote will now have to wait until April.

An EU Parliament spokesperson told that the delay is “technical” and was most likely brought on by problems with translating the nearly 400-page document into the 24 official languages of the union.

European Union Parliamentary Session got postponed

The EU postponed the vote to February 2023 in November 2022. However, they feared that technical difficulties in the lengthy text would cause the licensing regime’s anticipated 2024 implementation to be delayed.

Following the failure of FTX, EU officials stated that MiCA would have prevented such a collapse. However, the law contains a significant flaw that allows organizations like FTX, to continue serving EU clients without additional regulation.

The nearly 400-page text still needs to be officially approved by legislators. Also, the national governments that make up the EU’s Governing Council. Although European legislators have in principle approved the law, which also specifies reserve requirements for stablecoins, it has not yet received their official approval. All 27 of the member countries will be directly impacted by the law, but national regulators will largely be in charge of its implementation and interpretation.

French Policymakers pushing for mandated crypto firms

There have been other regulations delayed besides MiCA. Additionally, the same voting session in April will now be used to pass the Transfer of Funds Regulation (TFR). However, which is intended to be implemented concurrently with MiCA. The TFR mandates that all cryptographic transfers contain know-your-customer data for both the recipient and the receiver.

Ahead of MiCA, some European nations are pushing for stricter crypto regulation. However, as a result of the volatile year in the cryptocurrency markets. For example, French policymakers and central bankers are pushing for the mandatory licensing of crypto firms in 2023.

Also Read: My Neighbor Alice: An Introduction To The Play-To-Earn Crypto Game

The post European Union Postpones Its Final Vote On MiCA Regulation; Here’s Why appeared first on CoinGape.

Related Posts

Breaking: Republic Of China Announces Crypto Regulatory Body
24/7 Cryptocurrency News

Breaking: Republic Of China Announces Crypto Regulatory Body

March 20, 2023
Just-In: Bitcoin Ready To Hit $1 Million; Arthur Hayes Bullish Over This Reason
24/7 Cryptocurrency News

Just-In: Bitcoin Ready To Hit $1 Million; Arthur Hayes Bullish Over This Reason

March 20, 2023
Bitcoin Rallies As UBS Group Acquires Troubled Lender Credit Suisse In $3.2 Billion Deal
24/7 Cryptocurrency News

Bitcoin Rallies As UBS Group Acquires Troubled Lender Credit Suisse In $3.2 Billion Deal

March 20, 2023
Bitcoin (BTC) Price Climbs Past $28,000 For the First Time In Nine Months, Bull Party Started?
24/7 Cryptocurrency News

Bitcoin (BTC) Price Climbs Past $28,000 For the First Time In Nine Months, Bull Party Started?

March 20, 2023
Breaking: Credit Suisse (CS) Gets $1 Billion Buyout Offer From UBS; But There’s A Catch
24/7 Cryptocurrency News

Breaking: Credit Suisse (CS) Gets $1 Billion Buyout Offer From UBS; But There’s A Catch

March 19, 2023
Don’t Take Balaji’s Bet of Bitcoin At $1 Million in 90 Days Seriously, Analysts Explain Why
Balaji Srinivasan

Don’t Take Balaji’s Bet of Bitcoin At $1 Million in 90 Days Seriously, Analysts Explain Why

March 19, 2023
Next Post
Circle CEO Jeremy Allaire – “More Insolvencies Likely In 2023”

Circle CEO Jeremy Allaire – “More Insolvencies Likely In 2023”

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

How Much Of Sam Bankman-Fried’s Donations Are U.S. Politicians Giving Up?

How Much Of Sam Bankman-Fried’s Donations Are U.S. Politicians Giving Up?

December 17, 2022
Another Top Exchange Lists Solana’s BONK, Dries Up SHIB And DOGE Volume

Another Top Exchange Lists Solana’s BONK, Dries Up SHIB And DOGE Volume

January 4, 2023
Breaking: US SEC Charges SBF Of Defrauding Investors, Political Donations

Breaking: US SEC Charges SBF Of Defrauding Investors, Political Donations

December 13, 2022
1 Bln XRP On The Move; Will XRP Price Surge?

1 Bln XRP On The Move; Will XRP Price Surge?

February 1, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In