⚖️ Last week, the EU Parliament Adopted by 517-38 in Favor of Crypto-Focused #MiCA Legislation 👍 🥳
💚 Above all, it is a huge step that finally gets Crypto recognized as a Financial Asset, with different crypto-assets including #Stablecoins backed by physical commodity such as gold/silver, by algorithms, or by fiat currencies as $USD $EUR $AUD $JPY $CHF etc.
⚜️ These new rules and guidelines will enable technological innovation and place the #EU at the global forefront of the Token Economy... unlike regulation by enforcement in the US by its aggressive #SEC, which is definitely an inefficient and ineffective way to proceed when you want to kill (after trying to take over) an Unstoppable Decentralized Blockchain.😆
💚 Above all, it is a huge step that finally gets Crypto recognized as a Financial Asset, with different crypto-assets including #Stablecoins backed by physical commodity such as gold/silver, by algorithms, or by fiat currencies as $USD $EUR $AUD $JPY $CHF etc.
⚜️ These new rules and guidelines will enable technological innovation and place the #EU at the global forefront of the Token Economy... unlike regulation by enforcement in the US by its aggressive #SEC, which is definitely an inefficient and ineffective way to proceed when you want to kill (after trying to take over) an Unstoppable Decentralized Blockchain.😆
✅ EU Council Unanimously Votes in Favor of #MiCA Legislation
After the EU Parliament's plenary vote on April 20, MiCA has cleared its last formal hurdle this morning.
It was adopted by the Council of the EU (EU member states) - a purely formal vote after the political agreements last year.
Next steps:
1) Publication in the official journal of the EU (shortly)
2) Entry into force 20 days after that
3) Entry into application
🔹12-month later for stablecoins (& stablecoin issuers)
🔹18-month later for other crypto-assets and CASPs
👉 Final MiCA text:
🌐 https://data.consilium.europa.eu/doc/document/PE-54-2022-INIT/en/pdf
👉 Today's Council of the EU press release:
🌐 https://consilium.europa.eu/en/press/press-releases/2023/05/16/digital-finance-council-adopts-new-rules-on-markets-in-crypto-assets-mica/
After the EU Parliament's plenary vote on April 20, MiCA has cleared its last formal hurdle this morning.
It was adopted by the Council of the EU (EU member states) - a purely formal vote after the political agreements last year.
Next steps:
1) Publication in the official journal of the EU (shortly)
2) Entry into force 20 days after that
3) Entry into application
🔹12-month later for stablecoins (& stablecoin issuers)
🔹18-month later for other crypto-assets and CASPs
👉 Final MiCA text:
🌐 https://data.consilium.europa.eu/doc/document/PE-54-2022-INIT/en/pdf
👉 Today's Council of the EU press release:
🌐 https://consilium.europa.eu/en/press/press-releases/2023/05/16/digital-finance-council-adopts-new-rules-on-markets-in-crypto-assets-mica/