We can't find the internet
Attempting to reconnect
Something went wrong!
Hang in there while we get back on track
How Will MiCA Regulate the Future of Crypto? Fireside w/ Karolis Jonuška & Marine Krasovska
EU's MiCA regulation will revolutionize the crypto industry, with stricter requirements for company registration, increased consumer protection, and clear guidelines for NFTs and utility tokens.
- MiCA will regulate the crypto industry in the EU, addressing regulatory gaps and enhancing consumer protection.
- The regulation is expected to close loopholes and fix the “travel rule” issue.
- MiCA will apply to all crypto companies operating in the EU, including exchanges, wallet providers, and other service providers.
- The regulation will introduce stricter requirements for company registration, including a minimum capital of €250,000.
- There will be a sandbox regime for new players, allowing them to test their products and services before being fully licensed.
- The regulation will also require companies to have a dedicated team for compliance, anti-money laundering, and know-your-customer requirements.
- MiCA will also regulate non-Fungible Tokens (NFTs) and utility tokens, setting clear guidelines for their issuance and circulation.
- The regulation will give regulators more powers to reject applications and revoke licenses if companies fail to comply with the rules.
- The Baltics are seen as one of the most attractive markets for crypto companies, with Lithuania being a popular hub for crypto companies.
- Estonia has a thriving fintech sector, with many companies obtaining licenses and operating successfully in the country.
- The regulation will also address concerns around the lack of investor protection and the need for greater transparency.
- The MiCA regulation is expected to lead to more consolidation in the crypto market, with smaller players being acquired or exiting the market.
- The regulation will also create a more level playing field, with all companies being subject to the same rules.
- The EU Commission will review the MiCA regulation and make improvements as needed.
- The regulation will not only apply to exchanges, but also to wallet providers, payment processors, and other service providers.
- MiCA is seen as a major step forward in regulating the crypto industry, and is expected to have a significant impact on the market.
- The regulation will also give consumers more confidence in the crypto industry, as they will know that companies are subject to stricter regulations and oversight.