This Landmark Law Aims To End Crypto As We Know It In 2023 As Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, And Dogecoin Rebound
— Redeem, Fiat currencies, 2 %, xrp xrp 6, Looking aheadmica, 000 eur, Market manipulation, 1 ratio, Law, Signs, Crypto — 1 min read
EU struck a provisional deal on a groundbreaking set of crypto rules last week. The landmark law is set to come into effect in 2023 and become the world’s first regulatory framework for digital assets. The EU is seeking to ban all stablecoins that aren’t backed by a liquid reserve at a 1-to-1 ratio. The European Parliament agreed on a separate set of rules on crypto traceability that imposes traditional finance-like reporting standards on crypto. MiCA is paving the way for a global crypto regulatory framework, which is a double-edged sword for crypto investors. On one hand, the industry welcomes the deal because it could boost crypto adoption among institutional stakeholders and give crypto providers a “passport able” license to scale across the bloc Source